Introduce personal finance lessons in college: BJP MP in Parliament

Important for students to know about value of money, rate of return, mutual funds etc, says Tejasvi Surya

Bangalore South MP Tejasvi Surya on Thursday urged the Ministry of Education to introduce personal finance management in college curriculum. Speaking in the Lok Sabha, the BJP lawmaker said limited knowledge on money management leads young Indians to "precarious financial situations which are exploited by frauds".

"Most don’t know the basics of money management — value of money, compounding, rate of return, insurance, mutual funds, SIPs, retirement planning etc," he said.

The proposal received endorsements on Twitter with many calling it a "need of the hour".

"This will help avoid financial disasters many families have suffered due to lack of knowledge. Being a banker for 30+ years, I have seen many families, otherwise experts in their respective fields, make wrong decisions and suffer the consequences," wrote a Twitter user.