Published on July 14, 2018
President Ram Nath Kovind today asked the Institute of Cost Accountants of India to promote financial literacy among women in the country.
Addressing platinum jubilee celebrations of the Institute of Cost Accountants of India in New Delhi, Mr Kovind said, financial literacy among females can bring a social change. He said, the government has taken several steps towards ease of doing business.
The President said, the Institute can also work towards skill development among the youth. He said cost accountants play a substantial part in enhancing the efficiency of processes particularly in manufacturing and capital use.
Mr Kovind said, Cost accountants will have a bigger role as manufacturing in India gets a boost over the coming decade – with the maturing of the Make in India programme.
He said, it will be Cost accountants’ mandate to ensure that products and services are delivered at a competitive price but without compromising on quality.
The President said that it is for cost accountants to ensure that wasteful activities and costs in production are removed.
Asking them to help fight the aberrations of gold plating that may sometimes appear on the business landscape, he said, this will strengthen the national effort to establishing India as a low-cost and competitive manufacturing hub for world-class products.