‘Increased revenue collection will bring down fiscal deficit’

Source: The Hitavada      Date: 06 Feb 2018 09:51:00



Business Bureau,

THE Institute of Cost Accountants of India (ICAI), Nagpur Chapter organised a full-day seminar on ‘Sectoral Analysis Post Economic Reforms’. The seminar deliberated on manufacturing and service sector and also covered the latest amendments to the economic reforms.

The inaugural session was graced by Nanda Jichkar, Mayor, Dr Mukulita Vijaywargiya, IAS and Wholetime Member of Insolvency and Bankruptcy Board of India, Dr Maya Maheshwari, Commissioner of Income Tax (Appeals), Nagpur. Also present were CMA P V Bhattad, Past President and Central Council Member of The Institute of Cost Accountants of India and CMA Shriram Mahankaliwar, Secretary of Western India Regional Council of ICAI. The seminar began with the lighting of the lamp.

CMA Vivek Chavan, Chairman of Nagpur Chapter in his welcome address, highlighted the achievements of Nagpur Chapter and welcomed delegates of the 42nd Annual Seminar of Nagpur Chapter.

Mayor Nanda Jichkar said, “All the steps taken by the Central and State governments will be successful only through the implementation in the right direction by the local municipal and panchayat bodies. NMC is doing its best to deliver the fruits of various schemes to public in right earnest.” She also said that all schemes should be such as to generate more employment. Dr Mukulita Vijaywargiya shedding light on the ‘Insolvency and Bankruptcy Board of India’ highlighted the provisions where the wrongdoers are brought to book and investors are protected.

Dr Maya Maheshwari said that the recent steps taken by Government had brought persons under the Income-Tax bracket and increased the revenue collection under various Act specially Income-Tax and GST. This will bring down the fiscal deficit and inflation.

CMA P V Bhattad requested members to deliberate on the various provisions of the GST to ensure that all obstacles may be removed while implementing the ‘E-way Bill.’ Souvenir of the Chapter ‘Knowledge Pack’ was released by the dignitaries on the dais. The dignitaries were honoured with shawl, shrifal and a momento. CMA Anil Verma, Secretary, Nagpur Chapter proposed the vote of thanks. Prominently present were CMA Y P Sah, Vice Chairman, Nagpur Chapter and CMA Sameer Joshi, Treasurer of Nagpur Chapter.

This was followed by the first technical session. Dr V K Khare, Executive Director, Powergrid, was the Chairman. Two experts presented papers. CMA Rajendra Aphale deliberated on ‘Modinomics’. Dr Aparna Samudra deliberated on ‘Previous Economic policies vis-a-vis current one and it’s impact on economy’. Both the presentations were followed by a question answer session and Dr V K Khare, Chairman of the session summed up the deliberations. Mementoes were given to the Chairman and speakers. The second technical session was chaired by CMA Sanjiv Soni, General Manager (Internal Audit) of WCL. The speaker of the session was Pramod Jain. He deliberated on ‘FDI in retail trade, REAR etc’ He keept the audience spell bound by his interactive method of lecture.

Chairman CMA Sanjiv Soni summed up the session. The third and final sessions were chaired by CMA V V S Murthy, former bank official and member of Nagpur Chapter. Two CMAs presented papers. CMA N P Viswanathan deliberated on ‘GST and anti-profiteering’ and CMA Rajat Naidu deliberated on ‘Insolvency and Bankruptcy Code and Stressed Assets’. CMA Aditi Sontakke proposed the vote of thanks. The seminar was attended by more than 155 delegates from trade, industry and professions. The proceedings were conducted by CMA Renu Kulkarni, CMA NP Viswanathan and CMA K M Rao.