The month of April, the first month of the financial year, will witness events which will bring in significant changes in our lives. The first and foremost is the voting for the 16th Lok Sabha, which will commence this month. The world’s largest democracy is witnessing many firsts. A large number of youth (approximately 10 crore) will vote for the first time to make a difference. These are young citizens who were born at a time ,when, the Indian economy opened its doors to the world. They have not witnessed the freedom struggle or the License Raj that followed and have aspirations of achieving standards of living that match global standards.
The voters have three or four choices, the incumbent 10 year old coalition led by India’s oldest political party, which is challenged by a party whose face is perceived by some, to be that of a firm decision maker with a track record of development in his state while others see him as a force that will divide the nation, and the third choice is from a large number of regional outfits who have the interests of their respective States at heart. However, the most interesting is the fourth, a party who has been born out of a common man’s agitation against corruption, and claims to represent the “Aam Admi.” Another unique feature of this election is an option given to the voters to reject all candidates. I am hopeful that this election will strengthen our vibrant democracy. The only thing that is to be ensured is that all of us participate in this process and discharge our duty. This is the time to ink your finger and let it dry. What needs to rub off is your enthusiasm to vote and not the ink!
The second event is an attempt by the Apex Court to clean up the body that lords over India’s largest religion “cricket”. The court has given a lease of life to cricket’s most entertaining event, and has placed it in charge of a man who has always played with a straight bat. There are many who believe that the orders of the court transgress administrative rules and regulations. However, if these very same rules have been misused by those in charge, the Courts have very little choice. There may be many views on how the game should be played and how spectators should be entertained, but there can be no doubt that the game must be played honestly. Any person not doing so must face punishment. The players may earn as much as they can, but they must play the game with dignity and honour.
The third significant event is that of the notifications of 183 new sections of the Companies Act, 2013. They are to become effective from 1st April, 2014. The provisions and the draft rules substantially affect our profession. While many of us would believe that the responsibility cast is even more ominous than it was earlier, we will have to rise to the challenge. In the coming months, a lot will be written about these amendments.
The last but not the least important event is with respect to this Journal, our Society’s flagship. For 45 years this Journal has been a treasure of knowledge and has earned the respect of its readers. There are eminent professionals who have contributed to this Journal for decades, helping it to attain the stature that it enjoys. The Society has always kept pace with the times. It has recognised that the modes of communication have undergone a substantial change in the last decade. This generation reads newspapers on the net. When tax provisions have to be referred to, I instinctively reach for the Income-Tax Act, while my juniors reach for the mouse.
The decision to publish the BCAJ in the e-form, was taken during the time of my predecessor but the process took some time. The endeavour was that all the capabilities of the electronic medium should be utilised when the Journal is made available on the web. For this purpose, a dedicated website has been created. The issues of the past 10 years were uploaded on that website and a search facility was developed. The Journal website is www.bcajjournal.com .
From the month of April, the BCAJ will be available in e-form on the above website. To all the members of the Bombay Chartered Accountants’ society and the Journal subscribers the Journal will be available both in printed form as well as on the web. In order to give our readers across the globe who have not subscribed to the Journal or those who are only in netizens, a feel of the Journal, the access to the website will be available to all for one month from the publication of the April issue. The modalities will be announced on the Society’s website as well as the Journal website. Like all free things in life, this facility will be available for a limited time. From the month of May onwards, those who find our Journal valuable and I am sure many will, subscription will be available, details of which will be on both the sites referred to above.
Our endeavour is to maintain the highest standards of the journal and strive towards excellence. My appeal to all our readers whether subscribers or not, is to give us their feedback. We at the Society welcome it. So to all the Journal lovers, from the month of April, happy reading and happy viewing!
