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December 2023

From The President

By CA Chirag Doshi, President
Reading Time 6 mins
Dear BCAS Family,
 
“Financial literacy is an essential part of knowing how to avoid financial mistakes and devising plans for a secure and strong financial future.” – Tim Pawlenty
 
Financial Literacy is a topic that is extremely important to just about everyone these days. It’s important not only because it impacts everyone, but also because those who lack a sound financial education risk a future of unnecessary instability and hardship.Chartered Accountants can bring a big change in the nation’s future by contributing towards increasing financial literacy.In a tweet, PM Modi said, “On #CharteredAccountantsDay, we honour a professional community that is among our nation’s key financial architects. Their analytical acumen and steadfast commitment are crucial to strengthening our economy. Their expertise helps build a prosperous and self-reliant India.”
 
Measuring Financial Literacy essentially involves measuring a combination of awareness, knowledge, skill, attitude and behaviour necessary to make sound financial decisions and ultimately achieve individual financial well-being. According to the Standard & Poor’s Global Financial Literacy Survey, the world’s largest and most comprehensive global measurement of financial literacy, India ranks 73rd out of 144 countries. In India, only 27 per
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