Tax 101: NCERT Introduces New Tax Regime in Class 9 Textbooks

In a significant move to promote financial literacy, the National Council of Educational Research and Training (NCERT) has introduced a section on calculating tax liability under the new tax regime in the Class 9 textbook. This marks the first time students will learn about the new tax regime as part of their school curriculum. The section is included under a chapter titled 'Managing Your Personal Finances'.

The chapter also educates students on various investment options such as fixed deposits, mutual funds, and equity stocks. This initiative aims to equip young learners with essential financial skills early on. The new tax regime, which offers lower tax rates without exemptions, was introduced in the Union Budget 2020. By incorporating this into the syllabus, NCERT seeks to familiarize students with contemporary financial practices.

This development is expected to foster a more financially aware generation, with potential long-term benefits for the economy. Education experts have welcomed the move, noting that early exposure to personal finance can lead to better money management skills in adulthood. The updated textbooks are likely to be rolled out in the upcoming academic session, with teachers receiving guidance on effectively delivering the new content.