'Need to empower women through financial literacy': Vice President M Venkaiah Naidu

Predicting that India would become a USD 10 trillion economies in the next 10-15 years, Vice President M Venkaiah Naidu Friday said there was a need to empower women through financial literacy. Speaking at a national conclave on Empowering Women through Financial Literacy here, he said there cannot be an accelerate progress unless women are involved as equal stakeholders in every sphere of activity, including agriculture.

"With India emerging as a top destination for investments and the country set to become a USD 10 Trillion economy in the next 10-15 years, women empowerment through financial literacy acquires greater importance and must be accorded highest priority," he said. "This can only be done when the government, NGOs like Learning foundation, civic society collectively work towards it," Naidu said.

Quoting IMF reports, the Vice President said Indian economy is expected to grow at 7.3 per cent this fiscal and 7.5 per cent in 2020. "We are the sixth largest economy in the world and are poised to become a USD five trillion economies in next five years," he added.

Making women equal partners in progress must begin by making them independent and empower them to deal with finances and one cannot change social dynamics without women's involvement in the economy, he added. "Empowering women through financial literacy is not only important in terms of bridging the gender gap but also to ensure a more secure future for women. Gender equality must be the concern of every citizen and not just the women alone," he said.

Imparting financial literacy and skills would enable women to effectively manage their personal and household finances, Venkaiah Naidu added.

(With inputs from agencies.)