ICAI Announces CA Exam to be Held Thrice Annually: Aniket Talati
Here’s a brief update for students preparing for the CA exams. The Institute of Chartered Accountants of India (ICAI) Chairman Aniket Talati announced during a GCCI event that the exams for the CA Foundation and Intermediate, usually held in May and November, will now be conducted three times a year. This decision was made due to the increasing number of students enrolling in the CA courses, which will be implemented from May 2024 onwards.
Talati further mentioned that Ahmedabad hosts the second-largest branch of ICAI in India. With over 15,000 CAs in Ahmedabad, he expressed gratitude to Nirmala Sitharaman for approving new courses for CA aspirants. Sitharaman, who attended the event, acknowledged the role of the Gujarat community, highlighting the transition from stock operators and traders to manufacturers within the community.
Later, Finance Minister Nirmala Sitharaman held a press conference at ITC Welcome Hotel on Ashram Road in Ahmedabad. She stated that ahead of the Lok Sabha elections, political leaders, including the Prime Minister, are campaigning to uplift people from various socio-economic backgrounds, a task undertaken by the Modi government.
Today, Finance Minister Nirmala Sitharaman was in Gujarat, where she engaged in discussions with businessmen at a program organized by GCCI. She also had discussions with representatives from the Gujarat Chamber of Commerce and Industries and chartered accountants from ICAI. The dialogue also touched upon the topic of “Developed India 2047.” Various issues were discussed, including how to improve the state and country’s economy, strengthening the MSME, textile, and chemical industries, resolving issues related to GST returns and taxes, semiconductor, IT hub, AI technology, and the challenges and opportunities in hydrogen energy. She emphasized efforts to increase GDP growth and move ahead with international standards. During the dialogue, there were questions raised by businessmen about the increasing shipping and insurance costs, to which the Finance Minister suggested sending suggestions for consideration.
After Modi became PM, the situation changed: Nirmala Sitharaman
Nirmala Sitharaman stated that the situation was different when Modi took charge as PM in 2014. The economy was in a bad state, with 22 months of double-digit inflation. At that time, the Twin Balance Sheet (TBS) problem needed to be addressed. One balance sheet was of companies and the other of banks. Even the RBI mentioned that resolving the TBS issue would be beneficial. Problems in banks like Yes Bank and Punjab National Bank also needed to be resolved.
Gujarat’s role in Indian manufacturing is significant
She further mentioned that by 2047, the dream of a developed India will be fulfilled, Gujarat is leading in the renewable energy sector, and there has been significant growth in the manufacturing sector in Gujarat in recent years. During a dialogue on “Developed India 2047“, Nirmala Sitharaman stated that after 2014, India’s economy has seen stable growth. In the last 10 years, India’s economy has become an example of development in the world. India now has a solution to every problem. The process of bank mergers started from 2017 to 2019. No process or technical procedures of banks were delayed. I am proud to say that India is not just a vacant country, it is self-reliant India. Gujarat’s role in Indian manufacturing is significant. Today, if India becomes a semiconductor hub, it is because of Gujarat’s ecosystem. Gujarat has become the center of attraction for manufacturing.
After the process of shifting from West Bengal to Gujarat, other companies are still being encouraged to move to Gujarat. Now, Gujaratis will also manufacture semiconductors due to policies, governance, and the ecosystem of Gujarat, which has made it a manufacturing hub. The manufacturing industry is continuing to establish units in Gujarat because it offers suitable systems and future prospects. Gujarat accounts for 62% of India’s petrochemical production. In chemical production, Gujarat holds a share of 35%, in soda ash 90%, and in caustic soda production, it holds 20%. Despite having only 5% to 6% of the country’s land area, Gujarat makes a significant contribution to the nation’s economy.
