New Delhi, March 7: The NCERT (National Council of Educational and Research Training) board to introduce the concept of money, Shubh Labh, prosperity in the school text book for ninth and tenth grade students.
The textbook in which the chapter is named “money and prosperity for all” includes all areas of money-related topics, from the ancients to modern money and the evolution of money to the different aspects of money.
To understand the importance of money not only for the general life subject but also to make the student understand money as a medium of exchange in a different way from evolution to now the board has included this particular chapter in the book.
The text book explains the barter system as in ancient times, when money did not exist, people exchanged goods and services for their needs and with changing times, came punch-mark coins, modern coins, paper money, and now digital money. Also, they explain that the word rupee came from the Sanskrit word rupayakam, which means silver coin, as well as that the word has its own origin in the rupiya issued by Sher Shah Suri in the years 1540–45.”
The text book also includes the shubh labh concept, which explains the meaning of the words “real value-addition and prosperity occur when everyone truly benefits and gains and no one loses.” more, adding that “this could be a linear model of positive wealth creation for all.”
To make ninth and tenth class students understand the different concepts, like inflation, the real value of money, the time value of money, the relation between money and time, positive and negative values, and business values, the board includes different activities based on the real-life situation so that the students can understand it through practical practices.