Addressing chartered accountants on the foundation day of the ICAI (Institute of Chartered Accountants in India), Modi also said CAs should take a pledge to bring people in the tax bracket rather than boasting about the number of clients they have saved from paying taxes.
Highlights of PM Modi's speech:
- Your signature is more powerful than PM's and government also believes the accounts signed by you: PM Narendra Modi to CAs
- We will always remember how the community of professionals took a lead during the freedom struggle of India. Like the lawyers did during the freedom struggle, I urge the CAs to take the lead in the journey towards India's economic growth.
- PM asks CAs why action has been taken against only 25 of them for irregularities, while over 1,400 cases are pending for many years
- It's a bitter truth that only 32 lakh Indians have declared over Rs 10 lakh income, despite crores being in high-end professions
- Govt committed to more tough action against firms helping in hiding black money; we are not concerned about political implications
- Govt has cancelled registration of over 1 lakh companies and more than 37,000 shell firms have been identified for strong action
- Post-demonetisation, data mining shows that over 3 lakh registered companies indulged in suspected dealings
- If you know anyone with black money, warn them that they would not be spared: PM Narendra Modi to CAs.
- People with black money will face more difficulties when Switzerland begins automatic information exchange with India in 2 yrs
- Impact of our steps to check black money is clear from latest figures of Swiss banks, where Indians' money has dipped to record low
- Just like doctors don't want people to be ill to get more business, chartered accountants too need to safeguard society's economic health
- Those who have looted the poor will have to give back what they have looted
- Over one lakh companies came under scanner post demonetisation drive
- On one hand, there is a Swachh Bharat Abhiyaan and there is a movement to clean the nation from the menace of corruption
- Our Government has taken a tough stand against those who have looted the nation
- A country where a select few loot, such a nation cannot scale new heights. These select few never want the nation to grow
- GST a new beginning, a new path for our economy
- The CA community looks after the economic health of society.
- GST implementation dawn of a new era in India
- "I am hopeful the new course will boost the financial skills of people joining this profession. We need to develop a dynamic system in our institutions and human resources to meet the global benchmarks and requirements," PM said after launching a new CA course at the event.