ICAI submits economic reforms plan to Centre

Mysore, Aug 5 (UNI) Institute of Chartered Accountants of India (ICAI) President T N Manoharan today said the ICAI had submitted a plan for economic reforms, called Mission 2006, to the Union Government for its perusal.

Inaugurating the silver jubilee celebrations of the Mysore branch of South India Regional Council of ICAI here, he said copies of the plan have been submitted to the President, Prime Minister and Cabinet Ministers. Mission 2006 presented methods of bringing in more economic reforms through accounting system to further boost the economic growth of the country.

Mr Manoharan said India was emerging as a superpower in the field of financial development and would be driving the world's economic reforms in due course.

He said the Centre had set up the Government Accounting Standard Advisory Board, which apart from focussing on cash accounting aspects, advised the Government on other avenues like pension reforms. Several Union Ministers were now seeking the assistance of the Board for inducting modern accounting systems and bringing in reforms in their economies, he added.

Stating that 1,20,000 CAs of the total 1,30,000 were settled in the country, he said a lot could be achieved in economic reformes if their capabilities were channelised in the right direction by the Government. Accounting ethics could also be upgraded and Indian CAs were in great demand.

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