Building Wealth With Wisdom: The Urgent Need For Financial Literacy

Today, all Indians can take pride in the fact that our economy has crossed the $4 trillion mark. In the coming decade, India is poised to become the third-largest economy in the world. While the per capita income of ordinary Indians is steadily increasing, only 27% of the population can make informed decisions about savings and investments.

According to the National Centre for Financial Education’s 2025 report, just 24% of Indians can accurately calculate simple interest—a basic concept in financial planning. Due to a lack of sound financial decision-making, more and more businessmen, manufacturers, and self-employed individuals are falling into debt traps. Additionally, in the post-COVID era, many highly educated young people have lost vast sums of money by chasing quick wealth in the stock market without proper knowledge or strategy. As a result, both high- and low-income groups in urban and rural areas are experiencing immense pain and disappointment. Their hard-earned savings, meant for their children’s education or their own retirement, are being lost to fraudulent schemes due to insufficient financial awareness.

Deshpande Investment, established in the small town of Ahilyanagar, Maharashtra, in 2011, has been committed to promoting financial literacy in both urban and rural regions from the very beginning. The organization has conducted numerous seminars and awareness programs in collaboration with MCCIA, the CA Institute, and various educational institutions. These events aim to educate people about the importance of stocks, mutual funds, and the bond market.

Mr. Rajesh Deshpande, the founder and director of Deshpande Investment, holds a Master’s degree in Economics. He simplifies complex financial topics for investors, including the basics of investing, the influence of the Indian and global economies, the effects of geopolitical tensions, and the impact of inflation on savings. Over the years, more than 800 of his articles have been published in various regional newspapers. Furthermore, through All India Radio & Doordarshan Deshpande Investment—supported by Mr. Deshpande’s family, team, and friends—continues to conduct financial and investment literacy initiatives.

If all institutions in the financial sector take proactive steps toward increasing financial awareness—without focusing solely on profit and loss—India is sure to become a global superpower in the next decade. The benefits of such progress will directly improve the lives of ordinary citizens through increased financial well-being.

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