This was announced by ICWAI president Kunal Banerjee during the Golden Jubilee National Convention-2009 that started on Thursday. Speaking at the inaugural function chief guest Ravi Chopra, chairman and managing director of Piaggio Vehicles India Private Limited said that the concept of inclusive growth presupposes overall growth of all sections of the society. “ If the entire social spectrum of the society is not taken into account while planning for further economic progress, the pace will be hampered,” he said.

Inequitable application of the country’s natural and human resources has created a scenario where there are people in India who are among the riches in the world and also the poorest.

The country must speed up economic reforms harnessing optimally the resources, said Chopra.

Former Vice-chancellor University of Pune Dr Ashok Kolaskar inaugurating the three-day conference said that the country should exploit the opportunity presented by the present global slowdown. “ The current scenario demands a thorough redefinition of the country’s entrepreneurship potential, encouragement to basic research and participation of every section of the country’s population. Kunal Banerjee said that in the present economic scenario, there is an urgent need to extend the existing principles and practices of cost accounting and cost audit in the entire spectrum of Indian industries, both in the manufacturing sector and services sector as an exercise in toning up the governance framework.