Key Note address to the newly qualified Chartered Accountants

Dear friends, It is my pleasure to extend my warmest congratulations to each and

every one of you, your recent qualification as Chartered Accountants. Your hard
work, dedication, and persistence have paid off, and you should be very proud of
your accomplishments.

As you take your first steps into the professional world, I want to remind you the
important role that you will play in the business community. Your expertise in
financial reporting, auditing, taxation, and business advisory will be vital in
helping organizations make informed decisions that drive their success. You will
be responsible for managing risks, ensuring compliance, and offering strategic
advice that is both valuable and actionable.

Let me tell you, the responsibility of maintaining a sound economic and financial
health of the country rests on you in the same way as the doctors are concerned
about the health of the society and people, At the same time that there wouldn’t
be a doctor who would encourage unhealthy practices to make more people fall
sick and enhance his earnings. The doctor is very much aware that if someone is
sick, he can make more money, but he still endorses healthy practices and habits
among the people.

Dear friends, you should take the responsibility of ensuring that the economic and
financial system remains healthy and is not plagued by any malpractices. You are
the pillars of a sound Economic and financial ecosystem of this country.

% &)-the objects of
Our scriptures have laid down four Purusharthas(!"#$
human pursuits. These include- Dharma (righteousness, moral values) Artha
(economic values), Kaama (psychological values), Moksha (spiritual values).
Has it ever occurred to you that whenever we discuss Dharma and Moksha, it is
the saints and monks who cross our minds!

In the same way when one thinks about Accounts and Finance, it is no one else
but you who come first in our minds. It beseems to call you the sages of economic
world. You have the same important role of guiding the economic systems the
way these saints and monks lead us to attain the ultimate truth Moksha.
It is the moral responsibility of all of you engaged in the profession of Chartered
Accountancy to guide one towards righteous conduct and practice.

However, with great power comes great responsibility. As Chartered

Accountants, you are held to the highest ethical and professional standards. You
have a duty to act with integrity, Objectivity, Confidentiality, and due care in all
your dealings with clients and public. You must maintain your technical
competence, Keep up to date with changes in the field, and continually develop
your skills and knowledge.

Friends, I would like to remain in recent years how India has emerged to be an
economic powerhouse riding on key reforms and battling through the vices of a
historic pandemic under the dynamic leadership of our Hon. Prime Minister
Narendra Modi

India had just peeked into the list of top 10 economies in 2014. In a space of eight
years, it has galloped to outshine its former ruler, the United Kingdom, to become
the fifth-largest economy in the world. the country will become the third-largest
economy in the world in the next seven years—by 2029, next only to the US and
China.

True, India’s economy has grown at a tremendous pace ever since economic
liberalisation in 1991. However, a booster came under the leadership of
honourable prime minister of Narendra Modi.

Friends, today our country is at another crucial juncture of history. After the
country’s political integration in 1947, today the country is getting economically
integrated. Our country started a new journey in 2017, with the dream of ‘One
Nation, One tax, One market’ has become a reality. The GST brought 1.3 million
taxpayers into a unified indirect taxation system.

India's banking sector was one of the biggest beneficiaries under the Modi regime.
As of 2014, more than half of the people in the country are unbanked. Under the
leadership of Modi last nine years 48 crore bank accounts were opened.

The government then went on to introduce the Insolvency and Bankruptcy Code
(IBC) which helped banks recover their debts. To address the problem of Non-
performing Assets Modi government came with the four reforms R’s –
Recognition, Recapitalization, Resolution, and Reform. As a result of the
reforms, NPAs have now fallen to 6-year low of 7.6 per cent..
The major key reforms under the leadership of Modi government is Jan Dhan-
Aadhaar-Mobile (JAM) trinity announced the linking of Jan Dhan scheme,
Aadhaar and mobile numbers of all beneficiaries in 2016.
It helped the government stop subsidy leakages and ensure the poor get the full
benefits of the schemes intended for them. It brought many who were financially
excluded into the banking fold. The scheme proved to be a game changer during
Covid times as the government could provide direct help to the people.

Friends, our country completed 75 years of its independence in 2022. The

country has set some new targets for the next 25 years “Amrit kaal” includes a
technology-driven and knowledge-based economy, with strong public finances
and a robust financial sector. To achieve this ‘jan-bhaagidari’ (public
participation) through ‘sabka saath, sabka prayas’ (efforts by all) your support is
essential.

My friends you people are respected over the world in the field of chartered
accountancy. In the end, I’d like to remind you of an advice by the most revered
economist – Chanakya. He said: “Kalati Kramat Kal Avam Falam Pivati”( '()
క+మ- '. ఏవం ఫలం 4వ) ), it means the time itself undermines the value of the
success of something if it was not done in the right time. Therefore don’t let your
time go in vain.

Once again, Congratulations on your achievement, and I wish you all the best. As
you begin this exciting new chapter in your professional Journey.

Thank You!!