NCERT introduces personal finance and income tax to Class 9 curriculum

The National Council of Educational Research and Training (NCERT) has introduced a new chapter titled ‘Managing Your Personal Finances’ into the Class 9 curriculum. Featured in the textbook ‘Understanding Society India and Beyond - Part 2’, the module aims to provide students with foundational financial literacy, covering topics such as budgeting, saving, investing, and personal income tax.

In a notable shift, the curriculum focuses exclusively on the new income tax regime, providing students with slab-wise tax calculation tables. The textbook emphasizes the civic importance of taxation, stating that paying taxes ‘honestly and on time’ is an essential responsibility of every citizen that contributes to national development and economic growth.

NCERT Chief Dinesh Prasad Saklani noted that the objective is to help students understand how tax payments support the country’s broader economic progress. Beyond taxation, the chapter teaches practical skills including distinguishing between different types of expenses and understanding investment vehicles like mutual funds, stocks, and fixed deposits.