The Uttar Pradesh Skill Development Mission (UPSDM) partnered with the National Stock Exchange (NSE) on Friday to foster a generation of financially aware, economically empowered, and future-ready youth. This collaboration will provide specialized financial skill training to over 1.5 lakh young individuals currently undergoing skill development at more than 1,000 training centers under UPSDM and the Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY), starting next week.
Integration of Financial Awareness with Vocational Training
Mission director Pulkit Khare stated, "The initiative integrates financial awareness with vocational training to strengthen long-term economic outcomes for youth." Prior to the signing of the Memorandum of Understanding (MoU), a financial literacy and awareness workshop was conducted to sensitize departmental officers and staff on the importance of financial literacy, informed decision-making, and long-term financial planning.
Key Financial Principles Shared by NSE Experts
During the workshop, NSE experts shared 12 core principles of financial success: savings discipline, living within one’s means, emergency preparedness, responsible borrowing, regular investing, diversification, understanding risk and return, tax-efficient investing, inflation planning, insurance awareness, estate planning, and periodic portfolio review. Participants were also introduced to the SaaRthi App, an investor education platform offering educational content, financial planning modules, calculators, and financial health assessment tools.
Practical Knowledge for Financial Empowerment
According to officials, the initiative will provide practical knowledge on budgeting, savings, responsible investing, debt management, and informed financial planning. Khare emphasized, "In today’s time of online frauds, misleading investment schemes, and financial uncertainties, financial education has become essential for our youth. Employment is important, but financial prudence is equally critical. This partnership will prepare youth for skill plus financial intelligence and empower them to become financially responsible and self-reliant citizens."
