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By:

Bhaskar Nath Biswal

13 May 2026 at 8:30:30 pm

Why India’s Classrooms Must Teach Money

When Jio’s IPO drew a record one crore applications, the market celebrated a milestone. Millions of ordinary households, many of them first-time investors, are now willing to put their savings into the stock market. Yet in many classrooms, when a teacher mentions the news, students nod politely without understanding what an IPO is, why a share has a price or what one crore applications means. That gap between a nation that is investing and a generation that does not understand investing is...

Why India’s Classrooms Must Teach Money

When Jio’s IPO drew a record one crore applications, the market celebrated a milestone. Millions of ordinary households, many of them first-time investors, are now willing to put their savings into the stock market. Yet in many classrooms, when a teacher mentions the news, students nod politely without understanding what an IPO is, why a share has a price or what one crore applications means. That gap between a nation that is investing and a generation that does not understand investing is the real story here. Ineffective Education Financial education in India remains an afterthought. Our schools spend years on algebra, trigonometry and chemical equations, but a student can complete twelve years of schooling without learning how compound interest works, how a loan is priced or why inflation quietly erodes savings. Commerce and economics are electives, usually chosen by only a section of students, and even there, the treatment is often theoretical, built around definitions to memorise rather than decisions to make. Surveys by India’s financial regulators and independent agencies have repeatedly found that only about one in four adults is financially literate. Official bodies such as the Reserve Bank of India, SEBI and the National Centre for Financial Education have launched awareness drives and a national strategy, and these deserve credit. But awareness campaigns reach people after they have already started making money decisions, often badly. The IPO boom shows that finance is no longer a closed club of brokers in Mumbai. The sector now offers careers in wealth management, financial planning, equity research, risk analysis, insurance, banking, fintech, regulation and data-driven investing. Many of these roles need not be confined to metros or elite institutions but require trained, trustworthy people in every district, including smaller cities, where demand for honest financial guidance far exceeds supply. A student who learns early how markets work may become an analyst, a certified planner, an entrepreneur or a policymaker. Even a student who chooses a completely different path will benefit in daily life. A young person who understands budgeting, saving, insurance and credit is less likely to fall into a debt trap, a loan-app scam or a ‘guaranteed returns’ scheme sold on social media. At the national level, the case is stronger still. A financially aware population channels savings into productive investment instead of idle cash or unproductive gold, strengthens capital markets and becomes more resilient during economic shocks. A country aspiring to become a major economy cannot afford to have most of its citizens sitting out the system that drives that growth. Ground Reality The difficulty is that good intentions meet a crowded curriculum, overworked teachers and an examination-centred culture. Most teachers have never been trained to explain money matters, and textbooks that cover them can feel dry and disconnected from real life. Rural and small-town students face a further barrier, since access to practical exposure, such as a demat account, a mutual fund SIP or even a bank visit, is limited. There is also a risk running in the opposite direction. A wave of influencers now promotes trading as a shortcut to wealth, and young people, excited by stories of quick gains, rush into risky products without grasping them. The very surge that makes the Jio IPO so impressive could, without guidance, produce a generation burned by speculation and put off investing for life. India needs to move from occasional awareness camps to structured financial education that runs through schooling. Basic concepts such as saving, interest, budgeting and risk should be woven into mathematics and social science from the middle-school years, with a dedicated, practical subject in senior secondary classes. Colleges, whatever the stream, should offer a compulsory introductory course in personal finance so that engineers, artists and doctors alike leave with a working understanding of money. Regulators, banks and market institutions can partner with schools to provide trusted material in regional languages. Above all, the focus should be on judgement, not jargon: teaching young people to ask where returns come from, what the risks are and who benefits from the advice. One crore applications for a single IPO should inspire pride, but also responsibility. If we want such participation to be informed rather than impulsive, and our young people to see finance as a rewarding career rather than a mystery, we must begin where every lasting change begins: in the classroom. (The writer is a former college Principal and Founder of Supporting Shoulders, an Odisha-based non-profit Trust. Views personal.)

Pune’s drought could dry up business

Writer: Rajendra Pandharpure
Rajendra Pandharpure
16 hours ago
4 min read

Water rationing threatens to hit the city’s wedding industry, construction sector, retail trade and livelihoods.

Pune : Pune is beginning to feel the economic sting of drought. A 10 percent cut in the city’s water supply has already been implemented, and the municipal administration has indicated that the reduction could rise to 20 percent or more over the next two to three months. What appears at first to be a water-management crisis could soon become a wider economic problem, affecting businesses, construction activity, employment and household budgets.


The Pune Municipal Corporation has begun shutting off the water supply every Thursday. Swimming pools and vehicle-washing centres have been closed, while the use of water for construction has been prohibited. The state government has directed the civic administration to ensure that the reserves in the Khadakwasla dam chain, which supplies Pune, last until August 2027.


The challenge could become more acute in the months ahead. Meteorological experts have forecast a milder winter and significantly higher temperatures this year. If these predictions hold true, increased evaporation could place further pressure on the city's water reserves, potentially necessitating stricter rationing. For residents accustomed to a relatively abundant water supply, cuts of 20 percent or more would demand a substantial adjustment in daily life.


Intense Pressure

The economic consequences are beginning to emerge. The closure of vehicle-washing centres has deprived young people employed in low-skilled jobs of their livelihoods. Swimming-pool closures have similarly affected security guards and lifeguards. These may appear to be small, isolated losses, but they expose a larger problem: when water-intensive businesses are forced to shut down, the burden falls disproportionately on workers with few financial reserves and limited employment alternatives.


The impact could spread to Pune’s lucrative wedding industry. The wedding season traditionally gathers momentum after Tulsi Vivah in the month of Kartik, generating business worth more than Rs. 200-250 crore. Pune has long attracted affluent families from outside the city who prefer its venues and facilities for wedding celebrations, partly because of its historically reliable water supply.


Persistent restrictions could undermine that advantage. Wedding venues, caterers, hotels and other service providers depend on a dependable water supply to operate. If rationing becomes more severe, organisers may reconsider their choice of venue, while businesses could face higher operating costs and disruptions. An industry that generates substantial seasonal revenue also supports a network of workers and small enterprises, making the potential economic fallout wider than the immediate loss of bookings.


Rural-Urban Connection

Pune’s commercial fortunes are also linked to the health of the rural economy. A good agricultural harvest typically improves rural incomes, supporting spending on goods and services in urban markets. When farm earnings weaken, that spending tends to contract, affecting traders, retailers and other businesses.


If rural incomes remain subdued, the city’s commercial sector could face an additional headwind at a time when water scarcity is already threatening business activity. The interaction between agricultural distress and urban water shortages could therefore deepen the economic slowdown.


Construction presents another major vulnerability. Like many large cities, Pune depends heavily on real estate and infrastructure development to sustain economic activity and employment. Construction projects generate demand across a broad network of industries, from building-material suppliers and transport operators to contractors and daily-wage workers.


A prolonged restriction on construction-related water use could delay projects, raise costs and disrupt work schedules. If projects stall, the effects will extend beyond developers to workers, suppliers and businesses that depend on the real estate sector.


Rising Inflation

For ordinary citizens, the prospect of tighter water rationing comes amid an already difficult cost-of-living situation. Food and restaurant prices have risen sharply. A cup of tea now costs more than Rs. 30, while a serving of idli-sambar can exceed Rs. 90. Even street food, traditionally an affordable option for working people, has become increasingly expensive.


These prices illustrate the pressure on household budgets, particularly those of workers whose incomes have not kept pace with rising costs. If water shortages push up operating expenses for restaurants, caterers and other businesses, consumers could face further increases. The extent of any additional price rise will depend on how severe and prolonged the restrictions become.


The working class is particularly exposed. Workers in vehicle-washing centres, swimming pools, construction and allied services may lose income precisely when everyday necessities are becoming more expensive. Unlike larger businesses, many such workers have little capacity to absorb a prolonged interruption in earnings.


Pune’s immediate challenge is to conserve enough water to carry the city through the coming months. Yet the implications of the drought extend well beyond household taps and civic supply schedules. Trade, real estate, hospitality and seasonal businesses all depend, directly or indirectly, on the availability of water.


The two sectors facing particular uncertainty are trade and real estate. The former could suffer from weaker consumer spending and disruptions to commercial activity; the latter could be affected by restrictions on construction and the risk of project delays. The consequences would be felt across employment and the wider urban economy.


Pune’s residents and businesses have not had to contend with water cuts of 20 percent or more on a sustained basis. Adapting to such restrictions will be difficult, especially if temperatures rise and the drought persists.

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