Chennai:
Nirmala Sitharaman, the secretary of union financing, pushed for the introduction of financial literacy in classrooms and schools on Friday.
It’s crucial to begin teaching financial literacy early, she said. The Finance Minister stated during a conversation with students at A M Jain College here on the subject of “Transforming India Into The New Decade” that it was currently being taught outside the curriculum.
“You have organizations like the RBI, SEBI, and a few national security depositor.” If you want to get economic literacy classes, they are also available online and are spread out over a few weeks. But as part of the curriculum, she said, it should be taught in schools and universities.
In response to a query, Ms. Sitharaman said that if the goal was to establish itself as the manufacturing hub, it wouldn’t hurt to import raw materials or intermediary goods for an expanding economy.
Ideally, I would prefer to have more imports than exports because it generates income. But why not if imports will slowly boost your imports? It’s often good if goods are present, she said.
In addition to making budgetary provisions to promote indigenous manufacturing of defense equipment needed for our armed forces, Ms. Sitharaman said the Center made sure that the MSMEs’ products were approved by the American military in order to make exports easier. Additionally, she added, a system for buying items for ten years was also in place.
Ms. Sitharaman, quoting Defense Minister Rajnath Singh, stated that the exports of defense products, which this year totaled Rs. 20,000 billion, are likely to reach the target of Rs 24, 000 crore in three months.
In response to a different query, the Union Minister stated that talks were ongoing with the American nations, Russia, and Sri Lanka for bilateral deal in Indian rupees.
She asserted that artificial intelligence (AI) would not replace jobs as previously thought, but rather that it would allow for the emergence of skilled labor to meet the challenges in a variety of fields.
“You need people who are experts in AI. To apply AI, you must create the equipment that will allow you to take advantage of AI’s potential. It will undoubtedly be carried out by individuals like you kids,” Ms. Sitharaman said.
According to the Finance Minister, selected new domain knowledge that emerge would produce a wide range of people and skills that could be used to exploitAI.