The Hindu : Andhra Pradesh / Hyderabad News : Rosaiah underscores company secretaries’ role

Online edition of India's National Newspaper
Thursday, Dec 27, 2007
ePaper

Andhra Pradesh

Andhra Pradesh - Hyderabad

Rosaiah underscores company secretaries’ role

Special Correspondent

HYDERABAD: Finance Minister K. Rosaiah has promised company secretaries that he will have their request examined for allowing them to appear in VAT tribunal and conducting due-diligence and compliance management of loan applicants in cooperative banks.

He was responding to a request by president of the Institute of Company Secretaries of India Preeti Malhotra, at a seminar on ‘Tax-efficient corporate funding’ organised by the city chapter of ICSI here on Wednesday.

Mr. Rosaiah said that the company secretaries had a greater role to play in realising the country’s dream of becoming a developed nation by 2020.

He noted that India, from being a borrower, had turned into a lender to the International Monetary Fund, with US $215 billion in foreign exchange reserves. Gross capital inflows had gone up by more than 50 per cent to US $ 227 billion, while the net inflows had almost doubled to $ 44.9 billion, he disclosed.

Responsibility

Laying emphasis on the role of the corporate sector, the Minister wanted the success of corporate houses to integrate social, environmental, human and financial aspects of the companies’ work. The corporate bodies should support sound national regulatory framework and international agreements by working with governments and other stakeholders, he pointed out. Corporate social responsibility, sustainable development and inclusive growth are today’s buzz words, he said.

He also dwelt at length on the targeted 10 per cent of growth rate by 2011-12 as planned in the 11th Five-Year Plan, public-private partnership initiatives, economic use of scarce and vital resources and taking the fruits of economic growth to the less-privileged sections of society. Former special chief secretary M. Gopalakrishna delivered the keynote address.

Printer friendly page
Send this article to Friends by E-Mail

Andhra Pradesh