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CM kicks off golden jubilee celebration of ICAI’s Ahmedabad branch

Chartered Accountants are capable of putting a stop to corruption and black money: CM

Kicking off the golden jubilee celebration of Institute of Chartered Accountant of India’s (ICAI) Ahmedabad branch today Chief Minister Narendra Modi said that chartered accountants are capable of putting a stop to corruption and black money. They should come out for fulfill their obligation towards the nation and bringing transparency in the economy.

The Ahmedabad branch of ICAI has at present about 5000 members. Congratulating the Ahmedabad branch for completion of 50 years Chief Minister said that realization of the true potential of chartered accountants (CA) can bring a huge change in nation’s economy. He underscored the importance of CAs’ role in financial management and economic discipline.

 

 

Chief Minister said that there was a time when the number of CAs was very less. At present there are around 10,000 CAs in Gujarat but, he said, considering the growth of Gujarat, about 25,000 more CAs will be added in near future. The demand for CA will keep growing in coming years, he said.

Mr. Modi said that it has become an established truth that ‘Gujarat means growth’. The total volume of all the past 11 five year plans was two lakh thirty thousand crore, while the volume of 12th five year plan alone is two lakh fifty one thousand crore. But how those with negative mentality could see this difference, he questioned.

Speaking about qualitative change that occurred in plan and non-plan expenditure during past ten years Chief Minister said that earlier in 2001 non-plan expenditure was double than the plan expenditure. While today the plan expenditure of Gujarat is 65% against the non-plan expenditure of 35%. Gujarat has become a revenue-surplus state out of a revenue-deficit state. From past twenty years, entire nation is struggling to achieve an agriculture growth rate of 4%, but it has only managed to reach a rate of mere 2.5% on average. While in the midst of the periods of draught Gujarat has continuously achieved an agricultural growth rate of around 11%. The once loss-making PSU companies of power sector have been turned into profit-making companies.

 

 

When the nation and the world was stuck in financial turmoil, Gujarat challenged the recession by organizing Vibrant Gujarat Global Investors’ Summit in 2009 and attracted investments worth billions. In the times of recession if India will serve as a market for other countries, it will not survive from the downturn. This nation of 120 crore people has a potential to make other countries as its markets. The ‘made in India’ products with zero manufacturing defect will enable us capturing world markets, he said.

About 65% of nation’s total population is comprised of youths below 35 year of age. The youth of India has potential to compete with China if they are provided proper training of various skills. Gujarat government has chalked out about 976 vocational courses which are based on various skills that a man required during his lifetime from birth to death.

Mr. Modi suggested the CAs to undertake a study on Gujarat’s Mission Mangalam project which is aimed at the empowerment of poor rural women.

During last decade, Gujarat’s power generation capacity has increased from 4600 mw to 20,000 mw. Gujarat has also chalked out policy for optimum use of natural resources for power generation. Gujarat alone has capacity to contribute about 700 mw of solar power in country’s total solar power generation. The project of Delhi-Mumbai industrial corridor alone will make Gujarat as India’s gateway of prosperity. Gujarat will need a huge number of CAs to serve its rapid growth, he said.

Chairman of the branch Jainik Vakil and CAs in large number were present on the occasion.

Pariksha Pe Charcha with PM Modi
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चलता है' ही मनोवृत्ती सोडायची वेळ आता आली आहे. आता आपण 'बदल सकता है' असा विचार करायला हवा : पंतप्रधान मोदी
Trade and beyond: a new impetus to the EU-India Partnership

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Trade and beyond: a new impetus to the EU-India Partnership
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INDIA-EU LEADERS' MEETING
May 08, 2021
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At the invitation of the President of the European Council Mr. Charles Michel, Prime Minister Shri Narendra Modi participated in the India-EU Leaders’ Meeting today.

The meeting was held in a hybrid format with the participation of leaders of all the 27 EU Member States as well as the President of the European Council and the European Commission. This is the first time that the EU hosted a meeting with India in the EU+27 format. The meeting was the initiative of the Portuguese Presidency of the Council of the European Union.

During the meeting, the leaders expressed their desire to further strengthen the India-EU Strategic Partnership based on a shared commitment to democracy, fundamental freedoms, rule of law and multilateralism. They exchanged views on three key thematic areas: i) foreign policy and security; ii) COVID-19, climate and environment; and iii) trade, connectivity and technology. They discussed forging closer cooperation on combating the COVID-19 pandemic and economic recovery, tackling climate change, and reforming multilateral institutions. India appreciated the prompt assistance provided by the EU and its member states to combat its second COVID wave.

The leaders welcomed the decision to resume negotiations for balanced and comprehensive free trade and investment agreements. Negotiations on both the Trade and Investment Agreements will be pursued on parallel tracks with an intention to achieve early conclusion of both agreements together. This is a major outcome which will enable the two sides to realise the full potential of the economic partnership. India and the EU also announced dedicated dialogues on WTO issues, regulatory cooperation, market access issues and supply chain resilience, demonstrating the desire to deepen and further diversify economic engagement.

India and the EU launched an ambitious and comprehensive ‘Connectivity Partnership’ which is focused on enhancing digital, energy, transport and people-to-people connectivity. The Partnership is based on the shared principles of social, economic, fiscal, climate and environmental sustainability, and respect for international law and commitments. The Partnership will catalyse private and public financing for connectivity projects. It will also foster new synergies for supporting connectivity initiatives in third countries, including in the Indo-Pacific.

India and the EU leaders reiterated their commitment to achieving the goals of the Paris Agreement and agreed to strengthen joint efforts for mitigation, adaptation and resilience to the impacts of climate change, as well as providing means of implementation including finance in the context of COP26. India welcomed the EU’s decision to join CDRI.

India and the EU also agreed to enhance bilateral cooperation on digital and emerging technologies such as 5G, AI, Quantum and High-Performance Computing including through the early operationalization of the Joint Task Force on AI and the Digital Investment Forum.

The leaders noted with satisfaction the growing convergences on regional and global issues, including counterterrorism, cybersecurity and maritime cooperation. The leaders acknowledged the importance of a free, open, inclusive and rules-based Indo-Pacific and agreed to closely engage in the region, including in the context of India’s Indo-Pacific Ocean’s Initiative and the EU’s new strategy on the Indo-Pacific.

Coinciding with the Leaders’ Meeting, an India-EU Business Roundtable was organised to highlight the avenues for cooperation in climate, digital and healthcare. A finance contract of Euro 150 million for the Pune Metro Rail Project was signed by the Ministry of Finance, Government of India, and European Investment Bank.

India-EU Leaders Meeting has set a significant milestone by providing a new direction to the Strategic Partnership and giving a fresh impetus for implementing the ambitious India-EU Roadmap 2025 adopted at the 15th India-EU Summit held in July 2020.