Published Paper Details:

The Financial literacy and Inclusion Survey (NFLIS) Report 2019 found that more than 70% of adult residents of India lack sufficient knowledge about managing their finances. According to finding of secondary data, there are only 21% of adult women show adequate financial literacy levels and only 17% of rural residents show acceptable levels of financial literacy. The objective of this report is to demonstrate how financial education is vital to executing the National Education Policy of 2020's (NEP 2020) objectives related to holistic child development, life skills, and vocationally relevant training. By using measurements provided by the OECD/INFE 2023 International Survey of Adult Financial Literacy (OECD/INFE 2022), India can be compared against countries with similar socioeconomic status to show that the majority of the comparing countries have average adult financial literacy rates of approximately 60%. This paper identifies the critical need of providing school-based financial education, as well as providing support to educators through the provisions outlined in the NEP 2020, and presents a potential for developing suitable alternatives as mentioned in this research paper.