<p>On Friday, Nirmala Sitharaman, the minister of finance, promoted financial literacy education in schools and universities. She emphasized the need to teach financial literacy early on. In an interview with students at A M Jain College here, the Finance Minister said that it is now being taught extracurricularly under the theme “Transforming India Into The New Decade.”</p>
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<p>A few national security depositories are among the organizations you have, along with the RBI and SEBI. If you’d like, you may also take online courses in financial literacy that span a few weeks. However, she believed that it need to be included in the curriculum of universities and schools.</p>
<p>In response to a query, Sitharaman said that if a developing country wants to become a center for manufacturing, there is no harm in importing intermediate goods or raw materials.</p>
<p>Since exports generate income, I would like to have a higher export volume than an import volume. However, why not if imports would progressively boost your exports? Sometimes it’s nice if there are imports,” she said.</p>
<p>Regarding military production, Sitharaman said that in addition to allocating funds to support homegrown manufacture of defense hardware needed for our armed forces, the Center made sure MSMEs’ goods were approved by the Indian army for export. She also said that a system for buying things for ten years was in existence.</p>
<p>Sitharaman said that the objective of Rs 24,000 crore for defense equipment exports, which was set at Rs 20,000 crore this year, is expected to be reached in three months, citing Defence Minister Rajnath Singh.</p>
<p>In answer to another query, the Union Minister said that negotiations for bilateral commerce in Indian rupees were ongoing with the African nations, Russia, and Sri Lanka.</p>
<p>Refuting the popular belief that Artificial Intelligence (AI) will lead to job displacement, she said that AI would instead facilitate the rise of competent workers who could take on challenges across a range of industries.</p>
<p>“You need somebody with AI experience. To make advantage of AI, you must create the instruments necessary to fully use its potential. It goes without saying that kids like you will complete it, Sitharaman stated.</p>
<p>According to the Finance Minister, some new domain expertise would provide a wide range of individuals and skills that might be used to utilize AI.</p>
It Is Time for Schools to Teach Financial Literacy: FM Sitharaman Nirmala
