Chartered Accountants – Volume 4 – Issue 1

Editorial

In the previous editorial, I had talked about the drastic developments taking place on the world stage and a chorus slowly building up on the inevitability of a Third World War. People, at large, across the world are generally in denial that the Third World War is a reality, leave alone the fact that the Third World War has, in fact, already begun. Amidst this chaos comes the news on Brexit , with Great Britian biting the bullet and on a ‘split decision’ deciding to break away from the EU, with Scotland and Ireland who were part of the referendum having second thoughts because they had voted to stay but were ‘outvoted’ by those from England in favour of Brexit. The Pound plunging to a 30 year low vis-avis the dollar has compounded the crisis. Further, there are increasing signs about the break-up of EU. Only the days to come will tell which way the world is headed.

Back home, though, it has been good going with the Government seen to be making genuine attempts to bring the economy on the growth path. The Prime Minister’s foreign policy is seen to be bearing fruit with the world siding with India on its request for membership in the Nuclear Suppliers Group (NSG) and in the process isolating China even as it succeeded in stalling India’s entry into the group.

The introduction of GST seems to more likely than ever before with an overwhelming majority of the states backing the GST in its present form, leading to the opponents of the Bill to lower their guard under the fear of being isolated.

India’s economic well being has always been dependent on a good monsoon. After a prolonged spell of drought, the monsoon seems to have arrived in right earnest. Here’s hoping that we have a lot to cheer on this front by the time we come back to you with our next issue.

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