Ernakulam: Venkaiiah Naidu’s vice president on Monday emphasized the need to increase financial literacy among the masses and urge professionals such as Chartered accounts to work in this direction by explaining greater and easier financial regulations and regulations for greater profits than the community.
Overcoming meetings at the Batu Foundation Ceremony from the Institute of Chartered Accountants of India (ICAI) Bhawan, Ernakulam in Kerala, the vice president said that a person had to deal with many complex rules and regulations while dealing with subjects such as accounting and financial everyday life.
“There is a need to increase financial literacy between the masses and I urge professionals such as Chartered (CA) accounts to work in this direction by explaining financial and regulatory rules in simple and easy languages for greater public benefits.
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In this case, he appreciated the government’s efforts to relieve the business environment through reforms such as GST and urged CA professionals to play a proactive role in transforming this regulation, directly from the policy-making process for the implementation of grassroots.
The Vice President said, “Chartered accounts have severe responsibility in guiding the business community to follow rules and regulations.” Observing that some black sheep bring bad names to all business communities, he advises students to work hard, discipline and follow the rules.
“If you have caliber and capacity, and add character, you can excel in any field,” VP Naidu said by citing the nurse’s example of Kerala who had gained good names throughout the world with their hard work.
Praising the role of a rented accountant in the economic progress of the nation, Vice President Naidu called them ‘partners proud of the building.
Noting that with changing times, a newer dilemma comes for their profession, he advises them to show ethical choices, values, and practices in decision making.
He said, “With the hard work and dedication of staff and its members, ICAI has emerged as one of the most respected institutions in the field of education and professional excellence.” Praising ICAI because it became the second largest accounting body in the world, Naidu expressed happiness for the fact that around, 27.85 percent of its members were women and 42.30 percent of students were women.
“This is a healthy trend and must be maintained,” he added.
Praising the Branch of Ernakulam from ICAI for its Yeoman service for the past 54 years, the vice president hopes that the proposed building will meet the academic and professional needs of students in the region.
Calling Chartered Accountants among the most sought-after professionals in the fields of finance, accounting and auditing, VP Naidu wants them to keep following the latest developments in their fields including new technology.
“The new generation Chartered accountant must be very understanding technology, adaptive and receptive,” he said.
Repeating that the ultimate goal of all the technology and all professions is to make life happier and more comfortable, vice-president said the example of how the hours of Trinity and DBT have changed the lives of millions of poor people in our country.
“This has been striking leakage in various government schemes and has made service provision efficient and hassle free for people,” he said.
Refinerating that the Indian economy recovered rapidly from unexpected setbacks caused by Covid-19, Naidu believes that in the post-covid scenario, the state can show new stories of companies that attract all strength.
“While the government works with a long-term vision and absolute commitment, it is important that organizations such as ICAI are parallel to that thought,” he said.
Referring to the sustainable ‘Azadi Ka Amrit Mahotsav for the 75th year of Indian independence, the vice president asked everyone to join this national campaign and make this the movement of fueled by the spirit of Aatma Nirbhar Bharat.
Venkaah Naidu’s Vice President calls for increasing financial literacy in India
