She was speaking at the 12th National Students’ Convocation 2025 function of The Institute of Cost Accountants of India (ICMAI) in the national capital.

“Throughout our history, accountants have enjoyed high esteem in our society. The reason for that, I believe, is that accounting and accountability are deeply connected. We value accountability; therefore, we attach special significance to accounting,” the President said.

In her speech, Murmu mentioned the court case that brought Mahatma Gandhi to South Africa centred on book-keeping matters. “Though he did not know any accounting then, he bought a book, studied hard and soon mastered the basics of accounting”.

In South Africa and later in India, the President said, Gandhi took scrupulous care to ensure efficient use of funds of public bodies he was associated with.

“For him, cost-efficiency was a way of life. It is not about saving money but about saving invaluable and often irreplaceable resources.

“The world is facing the crisis of climate change. Sustainability is no longer a slogan; it has become a necessity. That time is over when corporate organisations worked solely with the profit motive. Now they have to keep the environmental costs in mind. And this is where you, with your skills, can bring about a great change in the future of the planet,” Murmu said.

Stressing that the responsibilities of cost accountants extend far beyond financial accounting, she said they are uniquely positioned to contribute to India’s transformation into a Viksit Bharat by 2047.

At the function, Corporate Affairs Secretary Deepti Gaur Mukerjee urged cost and management accountants to embrace technology, innovation, and agility.

Cost and management accountants have a key role in the country’s journey to become a USD 30-trillion economy, she added. PTI RAM HVA