HYDERABAD: India is the favourite destination for investments because of its rapidly growing economy and rising GDP even while the rest of the world is witnessing a slump, Union minister M. Venkaiah Naidu said on Saturday. Prime Minister Narendra Modi has unleashed several reforms and his out-of-the-box ideas had paid dividends, Mr Venkaiah Naidu said.
The Union minister was speaking after inaugurating a two-day conference of the Institute of Chartered Accountants of India here. He stated that CAs played a key part in huge success of Income Declaration Scheme.
“CAs advised clients to opt for the scheme. They have to ensure compliance of rules and motivate their clientele towards more ethical practices by counselling and persuading them. This will contain the menace of black money. This way CAs can do a great favour to the country,” Mr Naidu said.
Further, he said that role of CAs was vital in the ever-changing economy and regulatory mechanism. The theme of the conference, ‘Jnana Yajna — Quest for Excellence’ is apt and everybody should strive to learn, learn and learn and not just earn, earn and earn, he said.
The GST was taking shape and CAs have a greater role to play in its implementation, the minister felt. Earlier Mr M. Devaraja Reddy, president, ICAI, said their vision was to become the leading accounting body in the world by 2030. “We have trained our members about GST and hence ICAI is fully geared up for the challenge by April 1, 2017,” he said.
