M Gopalakrishnan, national president of the Institute of Cost Accountants of India (ICAI), was in Patna on Sunday to participate in a national seminar on Goods and Services Taxes (GST). In a freewheeling interview, he spoke to Madan Kumar on a range of issues. Excerpts:

In the past five-six years, Bihar has registered remarkable growth. Do you perceive any role of the ICAI in accelerating the growth pace?

The ICAI can play a vital role in speeding up Bihar's growth if the state government involves our cost and management accountants (CMAs) in finalizing development plans and finalizing various tariff and taxation rates. Whenever a CMA is involved in planning, he/she ensures that any work is executed at the minimum cost. It will save government money. Altogether 20 states are now taking services of CMAs in planning and project management. Bihar, too, is taking services of our members. But we want greater involvement in Bihar's planning, decision-making and accounting operations.

How can a cost accountant be useful for the state government's schemes?

A CMA can have an important role to play in government schemes. Suppose the government wants to purchase lifesaving drugs under the National Rural Health Mission. If a cost accountant is involved in the process, he/she would come out with minimum cost of different drugs.

Can you speak in brief about your Institute?

ICAI is a professional body of CMAs, constituted by an Act of the Parliament. It has over 55,000 members all over the country and around 300 new members are being added every month. The Institute has 100 domestic and five overseas branches. Bihar has only one branch in Patna.

Have you any plan to increase ICAI's outreach in Bihar?

We have decided to increase our outreach in the fast-growing Bihar. The state has registered terrific growth in infrastructure and economy in the recent years. So, we have decided to set up at least one CMA Support Centre in each of its districts. It will be basically opened at any college. There will be no cap on the number of Support Centres in a district, provided the applying institute has sufficient infrastructure to run the Support Centre.

How will the CMA Support Centres increase your outreach?

The centres will help produce more CMAs. Later, we can set up separate branches of the ICAI in Bihar's different cities.

Any other plan for Bihar?

We are also going to set up a centre for excellence for the practising CMAs in Patna. I have asked our Patna chapter to request the state government to provide us land for the purpose.