"Role of Chartered Accountants is very important for development of the country": KTR

Speaking as the chief guest at the Institute of Chartered Accountants of India (ICAI) Convocation held at the Anvaya Convention in Hyderabad, KTR said the growing complexity of modern taxation systems and the rapid rise of startups have made Chartered Accountants indispensable for both private enterprises and government development programmes.

"The role of CAs will increase further in future business opportunities and the economic progress of the country," KTR said.

KTR, the working president of Bharat Rashtra Samiti (BRS), attended the Institute of Chartered Accountants of India (ICAI) Convocation as the chief guest. The convocation was held at the Anvaya Convention in Hyderabad for students who have completed CA. Speaking on the occasion, KTR said.

KTR said that the importance of Chartered Accountants is increasing in the current progress of the country. He said that India is developing rapidly, and the role and scope of chartered accountants are increasing rapidly due to new tax rules and new tax systems like GST. On the other hand, as incomes increase, businesses grow, transparency in tax payments increases, and modern technology becomes available, the need for CAs in society has increased.

He said that 15-20 years ago, there was very little demand for CAs, but many people were hesitant to take up the CA course due to the rigour of the CA course. However, KTR congratulated every CA student who had overcome such a tough course with great perseverance.

KTR said that becoming a chartered accountant is not just about passing the exam, but also about studying under severe pressure and uncertainty, overcoming failures and moving forward. He congratulated many people who cannot face failures and hardships in life and give up, but he said that completing the toughest course means that every young man and woman present at this convocation has proven that they can definitely face every challenge that comes in the future with courage.

He said that the number of startups, along with businesses, has increased tremendously in India, and many youth are moving towards creating their own business and commercial opportunities. He said that all such people need the financial guidance and support of CAs. In a way, KTR said that he is confident that the role of CAs will increase further in the future business and commercial opportunities and in the economic progress of the country.

KTR said that CAs are not just those who guide on tax rules, but also those who strengthen businesses. He said that if business and commerce increase, not only private individuals but also governments will get huge income, thereby helping in the development and welfare programs of the people. KTR suggested that the services provided by CAs indirectly and the income received by the government through them should be remembered. He said that Telangana has emerged as the most successful 'startup state' in the history of the country. He said that from 2014 to 2023, State Owned Tax Revenues have grown by over 37 per cent, which is the highest compared to any other state in India. Along with this, he said that if the overall income growth was about 14 per cent, it has increased to 24 per cent. He said that the per capita income of the state was 94,000 before the formation of Telangana, and by 2023, it had increased to over 3 lakh rupees, surpassing states like Gujarat, Maharashtra, Tamil Nadu, Karnataka and Haryana.

Chartered accountants should also focus on current technology and artificial intelligence and think about how to use it in their profession. KTR mentioned that he is convinced that human productivity will also increase significantly due to increasing technology, and that the currently changing systems and technology tools will also be very useful for the performance of CAs.

Finally, KTR congratulated every CA who has reached this level today... He advised them not to forget the sacrifices made by their parents to reach this level, and to move forward while always remembering their role in their growth. After that, KTR presented degrees to many people at the convocation ceremony. (ANI)