Integrity defines our profession. Our signatures certify the quality and longevity of business. With this belief, I humbly bow in gratitude to the Almighty for entrusting me with the responsibility of serving the profession as 74^th President of the Institute. I express my heartfelt appreciation to my family for their unwavering support, and thanks to my Council colleagues for their trust who have been companions in this journey; to my predecessor CA. Charanjot Singh Nanda, Immediate Past President for his dedicated leadership; and to all the Past Presidents whose vision has shaped this great Profession.

What we aspire to become must first be clear in our thoughts. The title 'Chartered Accountant' is not merely a Qualification; it represents discipline, sacrifice, perseverance, and resilience. Yet the true value of this title lies not in the prefix before our names, but in the integrity that we uphold, the enterprises we guide, the governance we strengthen and the nation building role we perform. Our identity is shaped not by the insignia we carry, but by the impact we make.

Change is no longer occasional; it is constant. Recent developments in Artificial Intelligence have transformed the way we work and think. ICAI is honoured to engage with policymakers, industry leaders, and stakeholders during the Panel Discussion on "Artificial Intelligence and India's Economic Growth: Sectoral Impact and the Road Ahead" on 17^th February 2026 in the India AI Impact Summit 2026 in New Delhi. ICAI has also participated and showcased our AI initiatives and demonstrated practical AI capabilities to delegates. The Summit underscored a national vision built on People, Planet, and Progress, emphasising innovation that is responsible, inclusive, and sustainable. The Government's MANAV Framework - Moral Systems, Accountable Governance, National Data Sovereignty, Accessible AI, and Valid, legitimate applications, highlights that technology must remain ethical and human-centric.

For our profession, this is an inflection point. AI will redefine auditing through intelligent automation, strengthen compliance with real-time analytics, enhance risk assessment through predictive modelling and elevate advisory services with data-driven insights. Our role will expand beyond financial reporting to encompass assurance over AI-driven systems, oversight of algorithmic governance and ethical supervision of digital processes. The question before us is not whether AI will influence our profession; it already has. The real challenge lies in how effectively we adopt and align with this transformation, enhance our competencies, and lead enterprises with responsibility and foresight in this age of intelligent systems. As professionals, we must adopt AI for its ability for better research, deep analysis and enhanced productivity, but not as a substitute for independent thinking. If People, Planet, and Progress define India's AI aspirations, then Integrity, Adaptability, and Knowledge must define our professional response.

Recognising this transformation, ICAI has signed a Memorandum of Understanding (MoU) with the Ministry of Electronics and Information Technology (MeitY) towards advancing AI education, skilling, research and innovation for the accounting and finance profession.

Simultaneously, the Institute is also rolling out Information Systems Audit Standards (ISAS) and expanding AI focused education to ensure members are technologically empowered and ethically guided in this evolving landscape.

India continues to rank among the fastest-growing major economies, advancing steadily toward global leadership. With sustained GDP momentum and a clear developmental roadmap, our nation is moving forward with confidence. India is steadily emerging as a global leader, propelled by the collective aspirations of its people for growth and progress. The Union Budget 2026-27 reinforces this vision with a calibrated balance of fiscal discipline and growth stimulus. With capital expenditure enhanced to Rs.12.20 lakh crore, the budget prioritises infrastructure, technology, human capital, MSME development, and innovation, thereby strengthening India's productive capacity and global competitiveness. Its focused thrust on expanding the digital ecosystem, cloud infrastructure, research, and innovation signals an unequivocal commitment to a future-ready economy.

In this transformative journey, our profession stands as a vital catalyst. As Chartered Accountants, we translate policy intent into measurable outcomes by ensuring transparency, effective risk management, and strategic financial stewardship and proper implementation. We support MSMEs through structured compliance, interpret evolving tax regimes, and promote investor confidence through ethical practices. While the Budget charts the nation's course, it is the integrity, expertise, and foresight of our profession that will support to convert this vision into tangible and inclusive progress.

Indians honour the planet not merely in thought but through actions guided by collective responsibility and long-term vision. Sustainability is deeply embedded in our civilisational ethos, and today India is translating that conviction into measurable outcomes. In 2025 alone, the country added nearly 48 GW of renewable energy capacity, taking the total beyond 207 GW and enabling India to surpass 50% non-fossil-fuel power capacity ahead of its 2030 target.

Aligned with these national priorities, the Institute continues to promote responsible reporting and accountability. Through the Business Responsibility and Sustainability Reporting (BRSR) framework and initiatives recognising excellence in sustainability disclosures, we are equipping Chartered Accountants to deliver transparent, credible, and globally aligned ESG reporting.

It is the collective resolve of 1.40 billion citizens that transforms aspiration into achievement and vision into reality. If we remain united in purpose and agile in adaptation, our determination will be our strength, and sustainable progress our enduring destination. Let us take a glance at the developments of the Month at the Institute:

I extend my heartfelt congratulations to my esteemed Council colleague, CA. Mangesh Pandurang Kinare, on his successful election as Vice President of the Institute for the Council Year 2026-27. His depth of experience, statesmanlike perspective and clarity of vision add significant strength to our profession.

The Institute has always been active in its developmental initiatives towards supporting institutional capacity building of government officials in terms to acquaint them with the global best practices and evolving trends in the finance and accounting paradigm. In this direction, the institute has recently organised a two-day training programme for newly recruited probationers of the Indian Cost Accounts Service, at ICAI Bhawan, New Delhi on 14^th and 15^th February 2026. The program was graced by Shri Pawan Kumar, Chief Adviser (Cost) along with other senior officers. Around fifty probationers participated, engaging in intensive sessions on financial reforms, digital transformation, data analytics, artificial intelligence tools and leadership development. I am sure that the training program would have directly supported the officers to undertake their evolving responsibilities in government financial management in an effective and efficient manner.

The Union Budget 2026-27 reflects a balanced and forward-looking approach sustaining growth while reinforcing fiscal prudence. With continued emphasis on infrastructure expansion, digital innovation, green transition and support to MSMEs, it strengthens the foundations of a resilient and competitive economy. Rationalised taxation measures, improved ease of compliance and investment friendly provisions demonstrate the Government's commitment to a transparent and stable policy environment.

Notably, the Union Budget 2026-27 incorporates several of ICAI's pre budget recommendations, reaffirming the Institute's role as a constructive policy partner. Key reforms include calibrated decriminalisation, rationalised penalty provisions with extended immunity, and a reduction in the tax rate on unexplained income. Compliance has been simplified through online lower TDS applications, TAN relief in specified property transactions, extended timelines for revised returns, and provision for updated returns in loss reduction cases. The removal of separate ICDS computation and clarity on interest deduction norms further enhances transparency and ease of doing business. We have submitted our Post-Budget memorandum to the Government so that expectations and outcomes envisioned in the budget are realised.

Additionally, ICAI is working closely with the Ministry of Corporate Affairs in advancing the Corporate Mitra scheme to support MSMEs nationwide. The initiative aims to strengthen governance standards, improve access to opportunities with confidence and enable sustainable scaling.

Very soon, Bank Audits for the year 2025-26 will commence. Many of you will undertake these assignments of great responsibility and national importance. The quality, diligence, and integrity you bring to this exercise directly influence the strength and credibility of our banking system. This is not merely a statutory obligation; it is the profession's vital contribution to financial stability and public trust.

I am confident that you will approach this responsibility with meticulous preparation, professional scepticism, and adherence to auditing standards and regulatory guidance. I extend my best wishes to each one of you for smooth, timely and impactful completion of this important duty.

The Institute has entered into a Memorandum of Understanding with the Reserve Bank of India to enable real time verification of Unique Document Identification Numbers through secure API integration. This strategic collaboration marks a major step towards strengthening transparency, authenticity and confidence in financial documents certified by Chartered Accountants.

The MoU was signed on 6^th February, 2026 at ICAI Bhawan, New Delhi in the presence of senior leadership from both institutions, reflecting a shared commitment to robust governance and digital excellence.

This initiative lays a strong foundation for deeper digital collaboration between ICAI and key regulators, strengthening a trusted and technology-driven compliance environment.

ICAI firmly believes that the true strength of our nation lies in its intellectual and human capital, which will steer India's continued economic ascent. It is therefore our mission to consistently expand avenues for holistic professional development and knowledge enrichment for our members and students. In this direction the institute has recently entered into following collaborations.

• Integrating Well-Being with Professional Excellence
  
  Recognising that professional excellence extends beyond technical mastery, ICAI has embraced a broader vision that includes the holistic well-being of our members and students. In February 2026, The Institute has entered into an arrangement with 'The Art of Living', to integrate stress management, value-based education, ethics and inner development into the professional journey. This initiative aims to enable Chartered Accountants and Students to meet professional demands with clarity and emotional balance. It reflects our conviction that sustainable productivity is achieved not only through skill enhancement but also through nurturing mental, emotional, and ethical capacities- reaffirming ICAI's commitment to meaningful societal contribution.
  
  
• Collaborations for Skill Enhancement
  
  The dynamically evolving business paradigm demands continuous enhancement of knowledge and skills to create value for stakeholders while remaining resourceful. Our recent collaborations with the Indian Institutes of Management at Kashipur, Ranchi, Udaipur, Sambalpur, and Raipur reflect this commitment to structured and future-oriented capacity building of our members. Through focused programmes, executive learning modules, workshops and research-driven engagements, these collaborations aim to expand the professional capabilities of Chartered Accountants and enable them to move beyond traditional accounting into domains such as strategic management, leadership, governance, and regulatory advisory.
  
  

The Institute continues to promote financial empowerment by undertaking structured financial literacy initiatives in diverse regions across the country. In collaboration with State Rural Livelihood Missions in Arunachal Pradesh, Tripura and the Andaman and Nicobar Islands, the ICAI organised focused workshops for Self-Help Groups, Cluster federations, Farmer Producer companies and grassroots functionaries, reaching more than 560 participants. These initiatives were designed to simplify complex financial concepts, strengthen informed decision making and enhance financial discipline at the grassroots level. Through such initiatives, the institute is nurturing financial awareness that supports inclusive growth and economic development at the community level.

ICAI continues to prioritise the development of robust regional infrastructure to better serve its members and students across the country. In furtherance of this commitment, the Institute recently notified its 186^th Branch at Korba City, Chhattisgarh, and launched the Bhiwadi and Tonk Branches of the Central India Regional Council (CIRC) of ICAI.

The inauguration of new branch premises at Ratlam, Siliguri and Jamnagar, along with the Bhoomi Pujan/ foundation stone laying ceremonies at Kozhikode, Karimnagar, Ongole and Raipur, further reflects our sustained commitment to expanding professional outreach and accessibility. These initiatives extend beyond physical expansion and signify the creation of vibrant knowledge hubs that advance learning, professional development, and meaningful community engagement.

On the occasion of the upcoming International Women's Day, I extend my heartfelt greetings to every woman. You are not merely participants in progress, you are the very source of strength, resilience, and inspiration that shapes families, institutions and nations. As Kofi Annan wisely said, "There is no tool more effective for development than the empowerment of women". True and lasting progress is possible only when women are empowered with opportunity, education, financial independence and leadership roles.

At ICAI, where women professionals constitute nearly 1/3^rd of the profession, we remain steadfast in our commitment to build an environment in which women professionals thrive with confidence and dignity. Let's reaffirm our collective resolve to build a more inclusive, equitable and empowering future for all. I also take this opportunity to wish you and your families a very Happy Holi. May your lives be filled with vibrant colours of joy, harmony, and righteousness, and may you always stand firm in upholding righteousness and integrity.

Friends, our nation stands at the threshold of unprecedented opportunities. As members of a proud and responsible profession, it is incumbent upon each one of us to rise to the occasion and ensure that these opportunities translate into meaningful progress not merely for ourselves, but for the nation at large. On this journey of growth and transformation your trust and active participation will remain our greatest strength.