India Committed to international causes, Business and employment included- Nirmala

Manipal: Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, emphasized India's commitment to collaborate with countries worldwide to address business and employment needs. She highlighted the significance of Prime Minister Narendra Modi's visits to various nations, stating that these visits have led to the signing of frameworks for mutual recognition of academic qualifications. The focus is on ensuring the mutual recognition of professional courses to facilitate the mobility of Indian professionals and their ability to conduct business abroad.

Speaking at a conference organized by the Udupi district BJP in Manipal, Sitharaman stressed that PM Modi prioritizes discussions on mutual recognition of professional course certificates issued in India during his foreign visits. By establishing such facilitative measures, it becomes easier for individuals to travel to these countries, forge partnerships, engage in business activities, and secure employment opportunities.

Furthermore, Sitharaman appealed to Chartered Accountants in India to assist the government in identifying shell companies. She highlighted instances where shell companies, operating out of a single room with minimal infrastructure, fraudulently obtained refunds on input tax amounting to thousands of crores of rupees. These "ghost companies" manipulated paper movements without any actual buying, selling, or commodity movement. To address this issue, the government has employed artificial intelligence (AI) to tighten regulations. Sitharaman called upon Chartered Accountants to collaborate with the government in identifying and curbing such fraudulent entities.

Sitharaman also acknowledged the vital role played by Micro, Small, and Medium Enterprises (MSMEs) in India's economy. She highlighted that the government has increased the budgetary allocation for the MSME sector from Rs. 3,285 crore in 2013-14 to Rs. 22,138 crore in 2023-14, recognizing them as the backbone of the country's growth and development.

Earlier in the day the finance minister visited the Admaar Mutt (one of the ashtamutts of Udupi of Madhwa lineage) and exchanged views with the Swamiji of the Mutt Vishwapriya Thirtha who presented her prasadam of Krishna Temple (eom)