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Lottery Winners In Kerala To Get Training In Financial Management Lotteries
Amarylisa Gonsalves
Posted on 31 Jan, 2023
By Amarylisa Gonsalves
On 31 Jan, 2023
By Amarylisa Gonsalves
On 31 Jan, 2023

Lottery Winners In Kerala To Get Training In Financial Management

A training program for lottery winners announced during the 2021-22 session of the budget, is all set to come into force soon in Kerala. As per reports, the Gulati Institute of Finance and Taxation (GIFT) has completed the process and has the design and structure of the program ready. 

The financial management program is a one-day orientation seminar for lottery winners, which will focus on making wise financial decisions and analysing secure investment possibilities.

Commenting on the program, an official told The New Indian Express, “The program is for people who win big prizes. Different investment options like mutual funds, insurance plans, pension schemes, and fixed deposits will be introduced to them. They will be educated on loan repayments as well. Basically, it will be an awareness program.”

He further added, “All the sessions will be handled by experts, including one faculty member of the GIFT and experts from different fields.” Each individual session will cater to the areas where the participants need more information. However, the program will be accessible only to those prize winners who win at least ₹10 Lakh.

ALSO READ: Supreme Court: GST On Lottery, Betting and Gambling Is NOT Against Constitution

The plan for the program is ready; however, the lottery department is still waiting for approvals from the finance and tax departments to finally launch the program since as per the rules, the lottery department cannot use its funds without approval from the finance department.

Several people praised Finance Minister K N Balagopal on the announcement of the budget statement made about the training program. Stories of people who lost money due to irresponsible spending would often surface in the media, and this training program would help reduce such situations.

A man named Anoop received the largest prize awarded on a single ticket in the nation in an Oman Bumper. He won the first prize of ₹25 Crore. Anoop, who recently opened his own lottery ticket stall, has also supported the financial management program.

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