CA. Shivang R. Chokshi, President Chartered Accountants Association, Ahmedabad
I hope that all of you had a wonderful audit season and are currently busy in filing tax returns along with looking into the long list of work which had taken back seat during September. October is also the month of festivities wherein the longest dance festival of Navratri is thoroughly enjoyed especially in the state of Gujarat. We have witnessed a huge rise in the amount of Raas-Garba being organized by societies and multiple agencies wherein the ticket prices have matched that of cricket world cup matches! The amount of money being spent on these events by the people in the city and the state is increasing every year. The driving reason is the large and fast growing middle class which is helping in the consumer spending index. The higher tax limit exemptions from FY 23-24 is also an indicator from government who is pushing India to be a spending economy. As per report of the Federation of Automobile Dealers Association, 11000 cars and 40000 bikes were sold across Gujarat on Dussehra. On a macro level, India is also poised to surpass Japan and become 2nd largest economy of the Asia-Pacific region. The CA fraternity will be playing a huge role in the rise and management of the earnings of the population of India.