TIRUPATI: Terming the demonetisation drive a significant step, members of the Chartered Accountants fraternity have hailed Prime Minister Narendra Modi’s vision and opined that it will help channelise national resources for growth and development of the country.
Speaking at the inaugural session of the 48th regional conference of Southern Indian Regional Council (SIRC) of Institute of Chartered Accountants of India (ICAI) held at Sri Venkateswara Veterinary University (SVVU) grounds here on Tuesday, they remarked that it would definitely have a telling impact on the nation’s economy. “It is a welcome step by the Central government to address the issues such as black money, fake currency and funding for terrorist organisations. For the sake of national security and inclusive growth, we have urged all our members to guide their clients and the general public in the right direction,” asserted ICAI Chairman M. Devaraja Reddy.
Mr. Reddy further said that though there might be a few problems in the beginning, the decision of demonetisation would augur well in the long run. He called upon various branch heads to conduct awareness programmes in all the 44 centres in South India, and also elucidate on other prevailing issues. He also emphasised on CAs updating their respective skills and working towards upholding the trust of the people.
Chittoor MP N. Sivaprasad, who presided over, urged the chartered accountants to contribute their part in allaying the fears of common man by spreading awareness on the issue. “Though a great step, the withdrawal of Rs. 500 and Rs.1,000 currency notes, has put people in a state of confusion. In this context, the financial experts should explain the reason behind the decision to the people,” he remarked.
Tirupati Legislator M. Suguna further emphasised on the need for conducting awareness programmes to promote financial literacy along with the prevailing developments.
The two-day conference focuses on the issues such as demonetisation, updates on Goods and Service Tax (GST), Income Declaration Scheme (IDS), issues related to audit firms, accounting reforms in railways, few pilot studies, certificate courses and much more. SIRC Chairman E. Phalguna Kumar, Canara Bank Chairman T.N. Manoharan, Amara Raja Group Chairman Galla Ramachandra Naidu and representatives from various branches took part in the conference on the first day.
