75th Founding Day Lecture Meeting on “India@2030” Know More

December 2023

From The President

By CA Chirag Doshi, President
Reading Time 6 mins
Dear BCAS Family,
 
“Financial literacy is an essential part of knowing how to avoid financial mistakes and devising plans for a secure and strong financial future.” – Tim Pawlenty
 
Financial Literacy is a topic that is extremely important to just about everyone these days. It’s important not only because it impacts everyone, but also because those who lack a sound financial education risk a future of unnecessary instability and hardship.Chartered Accountants can bring a big change in the nation’s future by contributing towards increasing financial literacy.In a tweet, PM Modi said, “On #CharteredAccountantsDay, we honour a professional community that is among our nation’s key financial architects. Their analytical acumen and steadfast commitment are crucial to strengthening our economy. Their expertise helps build a prosperous and self-reliant India.”

Measuring Financial Literacy essentially involves measuring a combination of awareness, knowledge, skill, attitude and behaviour necessary to make sound financial decisions and ultimately achieve individual financial well-being. According to the Standard & Poor’s Global Financial Literacy Survey, the world’s largest and most comprehensive global measurement of financial literacy, India ranks 73rd out of 144 countries. In India, only 27 per cent of the populati
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