In a developing country like India, the majority of people work for money yet money does not seem to work for them. What are your thoughts on the importance of financial literacy, particularly in a developing country like India? and what is the current status of financial education in India? Also do you think of any ways to bring developments in the current status of financial education in India?

The answer must be properly explained in min.1000 words and if possible please prepare a literature review too. Please make sure the answer is not a copy-paste. Yes, references can be definitely taken with mentioned sources but the answer must be consisting of personal insights, views and research. Please respond as soon as possible as this is going to be a part of my project and also if the answerer wants to mention his/her name, it will be acknowledged in my project.

Thank you in advance!