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President of India inaugurated the platinum jubilee celebrations of the Institute of Cost Accountants of India

Newdelhi:14/7/18;The President of India, Shri Ram Nath Kovind, inaugurated the platinum jubilee celebrations of the Institute of Cost Accountants of India in New Delhi today (July 14, 2018).

Speaking on the occasion, the President said that cost accountants play a substantial part in enhancing efficiency of processes – particularly in manufacturing – and of capital use. Cost accountants are the best managers of the three Ms of a business organisation. These are – men and women who work there; the materials used as inputs; and the machines deployed for processing, fabrication and creation. As global manufacturing evolves and as manufacturing in India gets a boost over the coming decade – with the maturing of our Make in India programme – cost accountants will have a bigger and bigger role. It will be Cost accountants’ mandate to ensure that products and services are delivered at a competitive price but without compromising on quality.

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The President said that it is for cost accountants to ensure that wasteful activities and costs in production are removed. It is for cost accountants to help in innovation and improvement of processes and systems to reduce avoidable costs and make each rupee that is invested go that much further. It is for cost accountants to help fight the aberrations of gold plating that may sometimes appear on our business landscape. All this will strengthen the national effort to establishing India as a low-cost and competitive manufacturing hub for world-class products.

The President said that as our economy grows, he expects the demand for cost accountants to rise very sharply. It will do so not only in the corporate sector but also in government organisations. State governments as well as Ministries and Departments of the Union government are making efforts to rationalise expenses and costs. A Section 8 Company promoted by the Institute of Cost Accountants of India has entered into a memorandum of understanding with Indian Railways to study the existing costing system in Indian Railways and suggest reforms for greater efficiency. In the days ahead, this learning can be extended to other fields, including defence acquisitions.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.

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