The Corporate Mitra scheme, which was introduced in the Union Finances 2026-27, might be launched in the coming months by June. The Institute of Chartered Accountants of India has supplied inputs to the Ministry of Corporate Affairs on the scheme, below which candidates can be educated to assist micro, small and medium enterprises meet compliance necessities at inexpensive prices in Tier 2 and Tier 3 cities.
“That is an employment-producing exercise which may even assist MSMEs in smaller cities get primary compliance work completed by company mitras,” stated Prasanna Kumar D, President, ICAI 2026-27. The ICAI is attempting to make a course curriculum for them and likewise information CA companies on what form of coaching must be given to them.
Interacting with reporters on Wednesday, he stated that the ICAI has submitted preliminary remarks to the MCA for the scheme, which is more likely to be launched by June 2026. It has been steered that graduates might be given a 9-month coaching, together with round 45 days of theoretical work adopted by six to seven months of sensible on-the-ground coaching at CA companies.
Submit-coaching, they might take an examination after which be licensed as a company mitra. A month-to-month stipend of Rs 9,000 might be supplied to those candidates throughout coaching.
“Following the coaching, the candidates could get keen on changing into a chartered accountant and will even enrol for the course,” he identified. The ICAI can be organising a Committee on Corporate Mitras to take ahead this initiative.
Aside from the ICAI, different skilled companies, together with the Institute of Firm Secretaries of India and the Institute of Price Accountants of India, are additionally working with the MCA on the scheme to design coaching modules for Corporate Mitras.
“Authorities will facilitate Skilled Establishments similar to ICAI, ICSI, ICMAI to design quick-time period, modular programs and sensible instruments to develop a cadre of ‘Corporate Mitras’, particularly in Tier-II and Tier-III cities. These accredited paraprofessionals will assist MSMEs meet compliance necessities at inexpensive prices,” Finance Minister Nirmala Sitharaman had stated in the Union Finances 2026-27 offered on February 1.
PMIS tweaks
In the meantime, the ICAI has additionally really useful tweaks in the Prime Minister Internship Scheme to allow CA companies to additionally take interns by the scheme. It has been steered to take away the provision of CSR funds as a requirement of the scheme and for the cost of the stipend. This could allow CA companies and different skilled institutes to take part in the scheme, Prasanna Kumar famous.
In help of this initiative, ICAI is actively working with the MCA and coordinating with corporates to facilitate placements of interns who’ve accomplished the programme.
The Corporate Regulation Committee of ICAI additionally examined the CSR implications of trainee absorption and really useful that vocational coaching expenditure could qualify as CSR, whereas submit-employment prices ought to be handled as regular enterprise expenditure. This clarification would align CSR implementation with the legislative intent of Part 135 and Schedule VII and stop divergent interpretations.
The MCA is known to be working on the modifications in the PMIS scheme, and its full-fledged rollout is probably going in the coming months.
The ICAI President stated that candidates who’ve handed Class 12 can then be supplied an internship by CA companies and supplied primary coaching in compliance work.
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