CAPACITY DEVELOPMENT UNDER NEP IN SCHOOL STUDENTS WITH FINANCIAL LITERACY: A CASE STUDY

National Education Policy (NEP) focuses on holistic development of learners and that can be achieved through developing curriculum frameworks for ensuring skills and values that are essential in the process of teaching-learning. In the National Curriculum Framework (NCF) it was explained that a curriculum framework must help develop all the diverse curricula in the country, while enabling harmony across the country and providing a basis for quality and equity. NCF brings a full range of capacities, values and dispositions that are aimed to be developed in school education.

NEP aims at multidisciplinary, analytical and creative thinking with greater attention to life aspirations, and greater flexibility. Capacity development is transformations that empower individuals, leaders, organisations and society. It helps everyone (no one left behind) to realize their full potential, plan, put efforts, sustain and learn/upgrade skills and productivity together collectively, in the long run. With financial autonomy, financial decisions will be much more achievable and lead towards a path of growth & prosperity as well as financial wellbeing of individuals and a nation as a whole.

The foundation of developing capacity in school students with an understanding of the fundamentals of financial concepts like savings, borrowing, and interest, time value of money, inflation, SIP, and power of compounding is provided by this case study, which involved a group of middle CBSE co-ed school students completing a pre-test, planned lesson and engaged work, series of executions, and finally a post-test with in a single group design. Students enrolled in financial literacy programs should be able to access stage I guidelines, which will enable individuals to go on to assess, evaluate, and take calculated risks, eventually enhancing their financial independence and well-being.