Need to educate farmers to manage their finances: Minister Venkatrao Nadagouda

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Only 2.8 lakh CA are serving in the agricultural sector currently and there is a need for more than 5 lakh CA in this sector.

The two-day conference ‘SAMARTHA’, organised by the Bangalore branch of SIRC of the Institute of Chartered Accountants of India (ICAI), was inaugurated by honourable Minister for Animal Husbandry and Fisheries Sri Venkatrao Nadagouda along with CA Jomon George, Chairman of SIRC.

Speaking at the conference for CA’s ‘SAMARTHA’, Sri Venkatrao Nadagouda said that it is pertinent that the common public must be educated about GST and other taxes related issues in Agricultural sector. Agriculture is the most neglected sector in India. Only 2.8 lakh CA are serving in this sector currently and there is a need for more than 5 lakh CA in this sector, he said. He also noted the need to educated farmers as they singlehandedly manage every aspect of farming — from from buying the seeds till selling the finished product in the market.

The minister added that the recent push from the government has resulted in educating farmers to manage their finances with the help of CAs in the country.

CA Dayaniwas Sharma, Central Council Member, ICAI, speaking on the occasion, said that Samarth has been taking great initiatives to ensure that the services of CAs is easily available to governments, ministries, corporate and citizen of the country. He said initiatives such as introducing Unique Document Identification Number (UDIN), launch of SSP Portal for the members and students, Digital Accounting and Assurance Board (DAAB), one of the world’s first formal body on the digital accounting and assurance to strengthen the courses of the system and forensics to take it to the next level in world recognition, SAP training to be introduced for members and added that after the successful implementation of GST, the members will be signing the GST audit reports.

CA Shivram Shankar Bhatt, Chairman, Bengaluru branch of SIRC of ICAI, said that Samartha aims to keep the community updated about happenings in field of Chartered Accountancy. Explaining further, Bhatt said that ICAI is opening up opportunities for CA professionals in India and the across the world. The association has been continuously running activities to update and qualified CA professionals to react to the regulatory change, he added. He said that understanding the potential and the pressure from the globalisation, the association is ready to offer its services directly to other countries. He expressed confidence that Bengaluru will be soon considered as one of the CA cities of the world.

Several eminent and renowned speakers like CA Abdhul Majeed, member of Governance Board, PwC India, Central Council Member, CA Daya Nivas Sharma from Hyderabad, CA Amar Dutia from Melborne Australia, Prof. KS Narayanacharya, senior Advocate CA A Shankar, CA Guruprasad and CA Gururaj Acharya are participating and sharing their expertise in the conference.

The sessions at the conference will range from issues like emerging global evolution impacting CA profession, GST controversial aspects and rulings, ethical values in profession among others.

The mega conference Samartha is being held in Karnataka for the past 15 years. This year, more than 1,000 CAs from all over Karnataka and other states are attending the conference. Eminent speakers from Melbourne, Australia will also be a part of the programme.