The Hindu Business Line : Raje moots public-pvt partnership in accountancy

Jaipur, Sept 12 The chartered accountants’ community should go out of its way in working closely with the Rajasthan Government, extending support to the State through expert advice, inputs on tax policies and budget related matters, Ms Vasundhara Raje, Chief Minister of Rajasthan, said here.

Although Rajasthan was at the forefront in terms of the number of CAs passing out, the Chief Minister rued that there was not much response coming the State Government’s way as many of the CAs migrated out of Rajasthan.

“I thought the only way to bring them (CAs) back to Rajasthan is to have a public private partnership (PPP) that would provide higher learning in this field (accountancy),” Ms Raje said on the occasion of the foundation stone laying ceremony for ICAI’s first Centre of Excellence (CoE) in the country.

The CoE, which will host the first ever residential campus of the institute, would come up on a 25-acre area. The ICAI President, Mr Ved Jain, said the Rajasthan Government has allotted 25 acres for the Centre of Excellence, which is expected to emerge as an accountancy research hub in the coming years.

Jaipur is emerging as a veritable hothouse for services sector activities, with many projects such as Deutsche Bank’s business process outsourcing (BPO) centre, Infosys’ BPO centre and Manipal University’s expansion under way in the region.

Meanwhile, Ms Raje used the occasion to urge ICAI to take care of the farmers residing in the villages around the proposed CoE as part of fulfilling the institute’s social responsibility. She suggested that ICAI could play a role in the mid-day meal scheme, education needs and scholarships for those living in the villages around that area.

Speaking at the event, the Corporate Affairs Minister, Mr Prem Chand Gupta, noted that the largest number of CAs come from Rajasthan. He highlighted that CAs do not get due recognition, but emphasised that they would play a leading role in the corporate world in the next decade just as information technology players did last decade.

Mr Gupta also said India was likely to have a new company law by next year and indicated that the legislation would be “simple to understand, simple to implement and simple to regulate”.

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