Dr Rajeshwar Singh Highlights Chartered Accountants’ Key Contribution In Nation Building

Dr Rajeshwar Singh, MLA of Sarojini Nagar, inaugurated the new office of ‘G Tewari & Associates’ in Gomti Nagar, Lucknow, on Wednesday. His elder brother, Rameshwar Singh, Member of the Uttar Pradesh RERA Appellate Tribunal, also attended the event. Dr. Singh shared his views on the critical role of Chartered Accountants (CAs) in India’s economic growth.

CAs: Guardians of Financial Transparency

Dr Singh emphasized that Chartered Accountants maintain transparency in financial reporting and ensure compliance with regulatory standards. Their work builds trust with investors and stakeholders, vital for the country’s financial system.

Supporting Economic Growth and Nation-Building

Dr Singh highlighted the essential role of CAs in guiding businesses with financial planning, tax management, and regulatory compliance. CAs are pivotal in India’s economic development and help businesses achieve success.

India currently has around 4 lakh registered CAs, but by 2047, the country will need at least 30 lakh CAs to meet its growing economic needs. This need is critical to achieving India’s economic goals.

CAs Drive Tax System Success

In 2024, India’s GST collections reached ₹20 lakh crore, and income tax collections hit ₹18.90 lakh crore, thanks to CAs’ efforts. Their contribution is vital in strengthening India’s tax system and ensuring financial transparency.

Dr Singh also emphasized CAs’ role in supporting MSMEs, which contribute 30% to India’s GDP. CAs help these businesses understand their financial standing and grow.

Global Trust Through Compliance

By ensuring compliance with international standards, CAs have helped India earn $85 billion in FDI in 2023. This trust from global investors reflects the hard work and dedication of CAs.

Dr Singh congratulated CA Gaurav Tewari, Sweta Dubey, Ekansh Tewari, and RC Sharma for the new office milestone and expressed confidence in their future success. The ceremony was attended by distinguished guests, including Shri R.K. Tewari, Smt. Anjali Tewari, Himanshu Bhatt, and Madan Mohan Tewari. Dr Singh noted that such events contribute significantly to the country’s financial system and nation-building.

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