Abhyspeeth Education Desk
Chhatrapati Sambhajinagar : In a major relief to financially weaker students aspiring to become Chartered Accountants, the Institute of Chartered Accountants of India (ICAI) has announced a fivefold increase in its scholarship fund, from ₹100 crore to ₹500 crore. The enhanced fund will benefit students from economically disadvantaged backgrounds enrolled in the CA Foundation, Intermediate, and Final courses.
This significant announcement was made by ICAI President CA Charanjyot Singh Nanda during a press interaction at the ICAI Chhatrapati Sambhajinagar branch. Nanda emphasized that the scholarship scheme is aimed at supporting needy and deserving candidates across the country. “This initiative reflects our commitment to democratizing access to one of India’s most noble and trustworthy professions,” he said.
ICAI is also working on a national vision to set up nine Centres of Excellence (COEs) across the country to provide advanced training and research facilities for CA students and professionals. Of these, three COEs are already operational in Jaipur, Hyderabad, and Kolkata. Responding to local interest, Nanda said that if a formal proposal is received, Pune and Chhatrapati Sambhajinagar will also be considered for establishing such centres.
Calling Chartered Accountancy a “noble and credible profession,” Nanda shared that 43% of CAs entering the profession today are women, and this percentage is steadily increasing. “Every third CA in the country is now a woman,” he noted, adding that ICAI continues to support gender inclusivity through policy reforms and academic support.
However, he also reiterated ICAI’s zero-tolerance policy on ethical violations, particularly in cases involving income tax fraud or financial malpractice. “Any misconduct by a CA, irrespective of their experience or designation, will be dealt with strictly,” he said.
Highlighting India’s trajectory toward becoming the world’s third-largest economic power by 2047, Nanda projected that the country will need at least 30 lakh Chartered Accountants by that time. Currently, India has 5 lakh registered CAs and approximately 11 lakh students pursuing the course. He stressed the need to train this future workforce with advanced technological skills, including data analytics, AI, blockchain, and forensic accounting.
“Our goal is to not just meet the demand, but to create CAs who are tech-savvy, globally competent, and ethically sound,” Nanda added.
