Help govt meet USD 1 trillion GSDP goal: UP minister to CAs

Lucknow, Jul 1 (PTI) To achieve the target of USD 1 trillion gross state domestic product (GSDP) in five years, the Uttar Pradesh government on Wednesday asked chartered accountants to act as its partners rather than remaining 'backroom boys' doing just debit, credit and other accounts work .

'You must not remain backroom boys but become boardroom boys. You have been kept in silos doing just debit, credit and other accounts work. Now, you need to be partner of the state government and help it fulfil the target of USD 1 trillion GSDP in five years,' UP MSME Minister Sidharth Nath Singh said.

He was addressing the UP Chapter of the Institute of Chartered Accountants of India through a webinar on the occasion of Chartered Accountants' Day.

'Chartered accountants should not forget that they have a larger role in capital formation, economic planning and social accounting. No law can be formed without their requisite inputs,' the minister said.

He said that for the success of the Aatmanirbhar Bharat campaign, chartered accountants must play a special role in the implementation of the Rs 3-lakh crore MSME package.

Singh said 2.67 lakh MSME units in UP have been given Rs 6,000 crore loan under the 'Aatmanirbhar Bharat Abhiyan'.

Noting that the state has 90 lakh MSME units and there is none to handhold these, he suggested that ICAI should have a pact with the MSME department for this purpose so that chartered accountants can help them prepare bankable appraisals for fast clearance.

'Today, retail business has shifted to e-commerce and in that, they need special expertise in taxation and other financial matters. You can guide them and help them to graduate from retail business to online business,' said. PTI SMI HRS