Published On : Sun, Jun 15th, 2014

India can achieve 8 pc growth rate: Bhandari

awsNagpur News : Chairman of Western India Regional Council of ICAI, Anil Bhandari said here on Saturday that India is among the largest economies on the basis of purchase power parity.

Due to this, chartered accountants in India are expected to change their service module as well as thought process in the next 10 years.

Anil Bhandari who was in the city to attend a seminar organised by WIRC, told mediapersons on the sidelines of the seminar that WIRC this year has adopted a theme ‘thinking beyond ordinary and thinking beyond imagination’.

As per this theme, CAs would be urged to think of providing different services in an integraed manner and a single service in different manner.

“CAs are partners in nation building and they can help government simplify rules. Hence CAs must think what is happening globally and if our economy can be merged with world economy”, he quipped.

Mode of service to be provided by the CAs would change dramatically due to technology. Hence trade and industry must approach ICAI with their problems so that the latter can approach the government for finding out time bound solutions.
About LBT, he said it (LBT) is being implemented in different ways across various municipal corporations while traders want it to be simplified – though it is a different question if it is necessary. ICAI has prepared a report in this regard and would submit it to the government.

An awareness programme for trade and industry would also be organised in the city, he informed.

ICAI is also doing a yeoman service by providing coaching to the underprivileged students at one fourth of the market fees because aim of ICAI is to create a good crop of CAs and not to mint money, he asserted.

For this purpose, WIRC has tied up with Vedanta Foundation which is either picking up students directly from college campuses or from among the article clerks working under ICAI members.

As far as Companies Bill is concerned, ICAI has reservatons about some provisions in the Bill and it would urge the government to review these provisions.

ICAI would also submit pre-budget memorandum to the finance ministry soon, he further said.

ICAI is also in favour of a uniform tax structure and would like government to adopt GST because it has lot of opportunities.
India can attain 8 per cent growth rate in the near future, he said in response to a query adding ” I recommend a balance between growth and check on inflation.

Earlier, vice president of WIRC of ICAI, Julfesh Shah said WIRC comprises Maharashtra, Goa and Gujarat States with 31 branches. A branch comes into existence if a town has more than 150 members. Vidarabha has branches at three places, namely Nagpur, Amaravati and Akola.

These branches and study circles -with less than 150 members each- undertake various awareness programmes for students, members, trade and industry. Interactive meets are also organised on various topics. Basically, ICAI acts as a conduit between government and trade and industry. There are problems in various subsidy schemes being implemented by the government due to which trade and industry suffers. ICAI has formed a study group to go into these schemes, he said.

Chairman of Nagpur branch of ICAI, Ashwini Agrawal made an introductory remark while secretary Swapnil Ghate proposed a vote of thanks.