Empowering College Students: The Role of NEP 2020 on Financial Literacy in India

Abstract

The National Education Policy (NEP) 2020 aims to transform India's education system by emphasizing practical and skill-based learning. A key aspect of this transformation is financial literacy, which helps students understand money management, saving, investing, and making informed financial decisions. This paper explores how NEP 2020 is shaping financial literacy among college students in India, the challenges in implementing financial education, and strategies for improvement. It also compares India's financial literacy initiatives with global practices and offers recommendations to enhance the impact of financial education.