“The benefits of demonetisation need to percolate down to entrepreneurs and their enterprises many of which are outside the ambit of the formal economy.’’ Stating this at the 31st regional conference of western India regional council of the Institute of Charted Accountants of India in Mumbai today Union Minister for Textiles Smt. Smriti Irani stressed on the need for fiscal discipline.
She said the nation needs fiscal discipline to build a strong economy and for social justice.
On her Ministry’s response to demonetisation the Minister disclosed that she facilitated opening of five lakh new bank accounts for textile workers and provided tool kits for skilled workers free of cost. She also disclosed that since the announcement of demonetisation municipal bodies have increased their tax collections. Cashless transactions have increased.
Appealing to the members of the Institute of chartered accounts to stand by the government in this demonetisation drive the Minister observed that if citizens decide to cooperate a lot can be done to strengthen the Indian economy.
The minister expressed hope that the Institute of chartered accountants of India would enrol more women and encourage girls with talent to join the field of chartered accountancy.