Union Minister’s Call to CAs on Domestic Economy Recycle

The Chartered Accountants (CA) should figure out ways in which Central budget can be localised for optimum utilisation, said Dharmendra Pradhan.

Published: 23rd August 2014 08:54 AM  |   Last Updated: 23rd August 2014 09:04 AM   |  A+A-

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BHUBANESWAR: The Chartered Accountants (CA) should figure out ways in which Central budget can be localised for optimum utilisation, said Union Minister of State for Petroleum and Natural Gas Dharmendra Pradhan. The Ministry has proposed a budget of `six lakh crore in the next Five Year Plan, Pradhan announced.

He was speaking at the three-day All India CA conference on “CAs New Frontiers, Challenges and Opportunities” organised by Bhubaneswar Branch of Institute of Chartered Accountants of India (ICAI), here on Friday.

Stressing on the importance of CAs in the financial system of any country, he sought suggestions from the accountants on how to recycle domestic economy like it is done in developed countries.

“In case of urgency, we issue tenders to foreign companies and for quality, we issue tenders to multi-national companies (MNC). Why cannot the same tenders be issued to indigenous companies?” Pradhan questioned. Despite Odisha having a major chunk of mineral deposits of the country and the longest coastal line, it is still one of the backward States, the Minister cited.

He urged the CAs to visualise how the situation could be changed to make the State an emerging business hub in Eastern India.

BJD MP Pinaki Mishra spoke about new measures being taken by Finance Minister Arun Jaitley to recover Indian economy. “Though we (BJD) are supposed to maintain equidistant from the ruling party and opposition, we support innovative efforts undertaken by the new Government,” he said. Mishra said he would place ICAI, Bhubaneswar’s request for land to set up its new office before the State Government.

ICAI president K Raghu said their organisation has proposed to offer scholarships to bright students with limited resources. NALCO CMD Ansuman Das, ICAI vice-president Manoj Fadnis and conference chairman Partha Sarathi Mishra were present, among others.

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