NCERT Class 9 Textbook Introduces Personal Finance and New Tax Regime
For the first time in school-level education in India, students in Class 9 will learn how to calculate personal income tax liability under the new tax regime. The curriculum addition is part of a newly released social science textbook published by the National Council of Educational Research and Training (NCERT).
The textbook, titled 'Understanding Society: India and Beyond Part Two', was released six months after the academic session began. The chapter, titled 'Managing Your Personal Finances', introduces students to basic financial literacy and includes specific tables detailing income tax slabs under the tax regime introduced in the Union Budget of February 2020 and made default from April 1, 2023.
According to ThePrint, the new tax regime introduced in the Union Budget of February 2020 provides lower concessional tax rates in exchange for foregoing most exemptions, becoming the default regime from April 1, 2023. According to ThePrint, for NCERT Class 9 Social Science Textbook, NCERT's new Class 9 chapter 'Managing Your Personal Finances' exclusively presents the new tax regime's slab calculations with no mention of the legacy tax regime.
Integrating Personal Finance into School Curriculum
According to NCERT Director Dinesh Prasad Saklani, the curriculum allows students to work through actual slab-wise tax calculations, marking a significant departure from traditional social science syllabi for this age group. The textbook frames the topic with a civic message emphasizing that paying taxes honestly and on time is an important responsibility that contributes directly to national development.
The chapter outlines the foundational pillars of personal finance, covering earnings, expense budgeting, saving, wealth-growing investments, and risk management. Under investment options, students are introduced to fixed deposits, bonds, equity stocks, and mutual funds, alongside the concept of early investing.
Structural Changes in Social Science Textbooks
The inclusion of personal finance is part of a broader consolidation of NCERT's Class 9 curriculum. Previously, students studied social science across four distinct textbooks covering history, geography, political science, and economics. Under the revised framework, these subjects have been consolidated into an integrated two-volume set comprising 16 thematic chapters instead of the earlier 20 chapters distributed across four books.
Significantly, the newly introduced finance chapter focuses exclusively on the tax framework introduced in 2020, which offers lower tax rates in exchange for relinquishing most exemptions and deductions. The text does not discuss the legacy tax regime.
Practical Application and Financial Literacy Goals
Educational administrators noted that introducing financial planning concepts in early secondary education aims to equip students with practical life skills regarding money management, borrowing, and risk protection. By embedding tax calculation tables and investment principles into standard coursework, the textbook seeks to foster early financial awareness among students across the country.