Dear Professional Colleagues,

I would like to congratulate all those students who have cleared the examination and wish them best of luck. I am happy to note the excellent performance shown by the students. The enthusiasm and cheerfulness of the students was visible in the Programme organized on 15th March, 08 by the Forum of Final Pass students.

I called on Shri Sis Ram Ola, Hon'ble Minister of Mines, Govt.of India, on 8th of April, 2008 to apprise him of the various activities and steps taken by the Institute for further improvement of the Profession. Hon'ble Minister evinced keen interest in the activities of the Institute and assured his full assistance.

Nowadays, like many other students, Final Pass students are naturally anxious for their placement through campus interviews. During the previous two half years, a number of companies have come forward to fulfil their requirement of accounting/management professionals through campus interviews. This time also we have been able to persuade good number as well as public sector for appointing students through campus interviews. We are confident that all our interested Final Pass students will get placement through campus interviews with very lucrative packages.

New syllabus of the Institute has come into force from 1st January, 2008 and in the New Syllabus training has been made mandatory. The response of the students in Foundation as well as Inter is overwhelming and their strenght has further increased.

As a result of good response from the students, financial position of the NIRC has further strengthened. This will enable the Institute to improve its coaching facilities. We have already initiated action to improve the library facility.

On national economic front there are number of development. Correction in the Share market resulting in steep fall in stock prices and heavy losses to the investors, volatility in gold and crude oil prices are having a direct impact on the developing economies like India. Report of the 6th Pay Commission giving the highest ever increase in the salries of Govt. employees, a big bonanza extended by the Govt. by restructuring of Income tax slabs are having impact on Indian Economy. Inflation is matter of worry for Govt. and the reported shortages of foodgrains and increase in pridces of steel, petroleum products, other food items, vegetables and other products have attributed to the highest ever inflation in the economy in the recent past and continue to do so. People have started talking about the second Greem Revolution to meet the foodgrains requirements. Recession in US economy has also contributed directly or indirectly to recent economic fluctuations in our country. Some time back there was a news item that Indian Accounting Standard will be in fonformity with IFRS from April, 2001, but to avoid recasting of the earlier years' accounts, de facto revised accounting standard will now be applicable from F/Y 2010-11. Keeping large-scale implication of Derivatives, applicability of AS 30 has been preponed and will be applicable from current year itself. It is expected that it may have implications of USD 5 billion and rally in share market shied away in this background.

There are number of developments on various fronts where the role of Management Accountants assumes a wider significance. It is the professionals who apply their special skills and techniques to suitably change the system to suit their company inparticular and the economy as a whole in general. I strongly believe that we will get more and more opportunites in this changes scenario.

I wish you a very happy Navsamvat 2065.

With kind regards.

B L Jain                                      April, 14, 2008