New Delhi
Raksha Mantri Shri Rajnath Singh addressed a workshop on financial market organised by the Lucknow branch of Central India Regional Council (CIRC) of Institute of Chartered Accountants of India (ICAI) in Lucknow, Uttar Pradesh on May 14, 2022. The workshop was organised to update the participants about the new developments related to the economy and train & motivate them to deal with future challenges related to the sector.
Shri Rajnath Singh commended the contribution of Chartered Accountants (CAs) in steering the commercial ecosystem of the country in the right direction, describing them as the backbone of financial management and auditing of the economy. “Just like our Armed Forces personnel who protect the country’s borders with sheer bravery and dedication, our CAs are the conscience keepers of the financial system. The CAs must ensure honesty while imparting their duties as they are the keepers of the people’s trust in financial institutions”.
The Raksha Mantri was of the view that the world economy is going through a very difficult phase due to the supply chain disruptions and logistical bottlenecks caused by COVID-19 pandemic and now the Russia-Ukraine conflict. “Russia and Ukraine are important commodity producers. Russia is a major producer of food grains and hydro-carbons, while Ukraine is an important producer of wheat, etc. Therefore, the ongoing conflict has impacted the whole world. Since we import hydro-carbon and oil-seeds in large quantities, their prices have affected our country. Food & fuel prices have gone up. Core inflation has also increased due to the global supply chain and other logistical bottlenecks,” he said.
