Twenty-two companies were recently presented with national awards for excellence in cost management.
Minister of State for Finance Jayant Sinha presented the 11th National Award for Excellence in Cost Management at a function organized by the Institute of Cost Accountants of India.
The 22 companies were awarded for excellence in cost management practices in nine different categories which included manufacturing (Private and Public) and then further divided into large, medium and small organizations.
The event was held at the SCOPE Auditorium, where M.J. Joseph, Additional Secretary, Ministry of Corporate Affairs was also present as special guest and addressed the participants.
Sinha said this is the age of cost accountants as they are professionals with a cost-conscious mindset. He also said CMA professionals have a very important role to play in achieving the Make in India concept being promoted by Prime Minister Narendra Modi.
He urged CMAs to work in such a way so that the integrity of their output could be assured.
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Addressing corporates, the minister said, " The only way we can get job creation is through economic growth. We need to get to a point where we are sustainably growing 7-8 per cent a year, so that we at least have a chance of absorbing people."
The institute organized the award ceremony with an objective to felicitate and recognize corporate organizations in their journey towards excellence in cost management.