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LATEST NEWS UPDATES | Govt hopes 4% growth in agri sector

Govt hopes 4% growth in agri sector

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published Published on Oct 24, 2016   modified Modified on Oct 24, 2016
-The Hindu Business Line

Hyderabad: The Centre is hoping to achieve a growth rate of 8 per cent in the economy and 4 per cent in the agriculture sector this year. “We are growing at the rate of 7 per cent and this year we hope our agriculture growth will be more than 4 per cent,” Arjun Meghwal, Union Minister of State for Finance and Corporate Affairs, has said.

Addressing the valedictory of the two-day meet of the Institute of Chartered Accountants of India (ICAI) here on Sunday, he said the country had been aspiring to achieve a growth rate of 4 per cent in agriculture for decades. “But this year is the first time in Indian history we will cross that 4 per cent growth target. That is also an achievement and our economy can definitely reach 8 per cent,” he said.

“China's economy is on a decline trend and we are on the rise,” he said.

T N Manoharan, who was part of the government appointed board that revived Satyam Computer, has asked the chartered accounts to build teams and develop expertise in a number of specialisations in order to cope with the fast changing the audit and tax landscape.

Addressing a session at the conference here on Sunday, he said it was important to form teams with strengths in different aspects of the profession and replicate them. “You must have a good succession plan and a brand building strategy,” he said.

Relating the story of the growth of CAs in the country, he said more and more women were joining the profession. “The landscape is fast changing with the advent of analytics, forensic audit, international taxation and virtual CFO services. Gadgets have become an integral part. There needs to be a paradigm shift in our approach,” he said.

Seer’s words


Chinna Jeeyar Swami, a Vashanavite seer heading a local peetham, has a piece of advice of the CAs. With fluent English and equipped with a PowerPoint presentation, he asked the CAs to tread an ethical path, undeterred by threats and pressures from above. “You must inculcate a culture of integrity and ethical management,” he said.

The Hindu Business Line, 23 October, 2016, http://www.thehindubusinessline.com/economy/agri-business/govt-hopes-4-growth-in-agri-sector/article9258667.ece?homepage=true


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