We in India understand financial literacy differently depending upon the underlying objective to build greater financial inclusion through financial literacy, for maximising welfare, both individually and for society generally. Although, we have progressively promoted financial literacy, many challenges remain.
Scholars and policymakers have spent our time primarily thinking about the impact of single laws, but it is appropriate to focus more broadly, especially since we have in fact repeatedly sought over the past century to revamp our system of laws to improve macroeconomic outcomes.