Message of CA. Charanjot Singh Nanda – Vitiyagyan

CA. Charanjot Singh Nanda

Vice President, ICAI

Financial Literacy supports the pursuit of financial inclusion by empowering the citizens to make informed choices leading to their financial well-being. It is practically indispensable towards comprehending major economic decisions judiciously and implementing them in true sense for economic growth of the individual and the nation. In essence, having financial literacy is a necessary life skill that promotes stability, effective financial management, and decision-making. At present only around 27% of citizens are financially educated in India, as per reports. The ICAI’s Financial and Tax Literacy Drive represents our efforts as a partner in nation building and is dedicated towards promoting financial literacy among the general population and various sections of society. I am sure that this drive shall be more pervasive this year.

The Institute of Chartered Accountants of India (ICAI) is a statutory body established by an Act of Parliament, viz. The Chartered Accountants Act, 1949 (Act No. XXXVIII of 1949) for regulating the profession of Chartered Accountancy in the country. The Institute, functions under the administrative control of the Ministry of Corporate Affairs, Government of India. The ICAI is the second largest professional body of Chartered Accountants in the world, with a strong tradition of service to the Indian economy in the public interest.

The affairs of the ICAI are managed by a Council in accordance with the provisions of the Chartered Accountants Act, 1949 and the Chartered Accountants Regulations, 1988. The Council constitutes of 40 members of whom 32 are elected by the Chartered Accountants and the remaining 8 are nominated by the Central Government generally representing the Comptroller and Auditor General of India, Securities and Exchange Board of India, Ministry of Corporate Affairs, Ministry of Finance, and other stakeholders.

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