DARSHIT PANDIT
Class IX student, DPS Ranchi
Ranchi, Dec 19: The poetry of money lies in the iambus of literacy, and yet the populace of Asia’s oldest economy routinely stumbles on the boulevard of pay cheques, provident and pensions.
Expedition on the geopolitical chalkboard has accelerated the country’s growth in every quadrant of the macro-economy. The deft hands of veteran analysts have sustained India through recessions midwifed by historically, colonial tribulations and the more topical economic trauma of the pandemic. However, the consumer sector of the country has atrophied; distressingly so; while the GDP of the country has grown by 7.6%, consumption only appreciated by 3.1%.
All these remote statistics spiral down to micro economics. It concerns us, as the consumers of the country, to gain a steadfast sternum on fiscal stability to be able to increase our purchasing power.
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As such, textbook remuneration or employment does not alone constitute the guarantee of financial stability, or purchasing power for that matter. It is financial literacy, that makes people capable of increasing consumption, and the country’s commercial aggregate.
This entails curricular inclusion of the topic; working it around the education system, and a promising upsurge in the field has been spotted. DPS Ranchi, as a leading institution, has upgraded its academia with Financial Markets as a new Matriculation Subject along with the formation of the Financial Literacy Club which regularly holds seminars, quizzes and interactive sessions on the topic.
If an academically primed environment is made conducive to financial literacy, students will evolve into citizens who can appreciate the providence and poetry of finance.
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