Financial literacy is a critical component of economic empowerment in India. Despite the growth of financial products and services, a significant portion of the population lacks basic financial knowledge, hindering their ability to make informed decisions.
Government initiatives and non-profit organizations are working to promote financial literacy through awareness campaigns and educational programs. These efforts aim to equip individuals with essential skills such as budgeting, saving, and investing, enabling them to navigate the financial landscape more effectively.
The rise of digital platforms has also made financial education more accessible. Online courses, webinars, and mobile apps are providing valuable resources to users, helping them understand various financial products and their implications. As financial literacy improves, it has the potential to drive greater participation in the formal economy, ultimately contributing to sustainable economic growth.