Revenues Worth Rs 153 Cr With ICAI Councils: Govt
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The government today said last fiscal revenues worth over Rs 153 crore were available with the regional councils of the Institute of Chartered Accountants of India (ICAI), and councils of the Institute of Cost Accountants of India had about Rs 40 crore.
These amounts are provisional figures for 2013-14, according to the data provided to the Rajya Sabha by Minister of Corporate Affairs Arun Jaitley.
While five regional councils have been constituted by the ICAI, four such councils have been established by Institute of Cost Accountants, Jaitley said.
ICAI's council in the Southern region had revenues (provisional) worth Rs 45.94 crore available, Western region (Rs 42.99 crore), Central region (31.83 crore), Northern region (22.41 crore) and Eastern Region (Rs 10.45 crore).
Together, these councils have Rs 153.63 crore of revenues available with them.
In the case of Institute of Cost Accountants, its council in Southern region had revenues of Rs 14.43 crore, Western region (Rs 12 crore), Eastern region (Rs 7.42 crore) and Northern region (Rs 6.04 crore) -- amounting to a total of Rs 39.9 crore.
Both institutions are "self-governing institutions constituted under the acts of Parliament," Jaitley said.
"The central government does not have any control over the functioning of regional centres and chapters of the institutions," the Minister added.
He also said that "so far, no parliamentary committee has reviewed the financial and administrative functioning of the two institutes".
On query related to foreign visits by the members of the two institutes, Minister of State for Corporate Affairs Nirmala Sitharaman said that the government had "no role to play in clearing the visits abroad of the members of ICAI and ICWAI (Institute of Cost and Works Accountants of India) as such visits are financed from institutes own funds".
"However, as per information furnished by the two institutes, their representative visit abroad in connection with meetings of various international boards and committees of which the institutes are members or with whom they have agreements for collaboration and cooperation," she added. (Outlook India)
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