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Defence Minister Rajnath Singh, while addressing the workshop at the Institute of Chartered Accountants of India (ICAI) Luncknow's branch, said the Indian economy is witnessing a V-shaped recovery after the Covid-19 pandemic.

He highlighted that the Indian exports have increased and a free trade agreement has been signed with Australia and other countries post the pandemic.

While addressing a workshop on the financial market organised by the Lucknow branch of Central India Regional Council (CIRC) of ICAI, he also spoke of the gross GST revenue collection which was the highest ever at 1.68 lakh crore for April 2022.

Singh defined tax collection as a means of completing works of public interest and said the same revenue is reaching more than 80 crore people in the form of free food grains through 'Pradhan Mantri Garib Kalyan Anna Yojana' during the Covid crisis.

The Defence Minister commended the contribution of Chartered Accountants (CAs) in steering the commercial ecosystem of the country in the right direction, describing them as the backbone of financial management and auditing of the economy.

"Just like our Armed Forces personnel who protect the country's borders with sheer bravery and dedication, our CAs are the conscience keepers of the financial system. The CAs must ensure honesty while imparting their duties as they are the keepers of the people's trust in financial institutions," he said.

Defence Minister Rajnath Singh said the world economy is going through a very difficult phase due to the supply chain disruptions and logistical bottlenecks caused by the Covid-19 pandemic and now the Russia-Ukraine conflict.

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