ICAI, Ministry of Corporate Affairs, working on the Corporate Mitra scheme

The Corporate Mitra scheme, which was announced in the Union Budget 2026-27, could be launched in the coming months by June. The Institute of Chartered Accountants of India has provided inputs to the Ministry of Corporate Affairs on the scheme, under which candidates would be trained to help micro, small and medium enterprises meet compliance requirements at affordable costs in Tier 2 and Tier 3 towns.
 
“This is an employment-generating activity which will also help MSMEs in smaller towns get basic compliance work done by corporate mitras,” said Prasanna Kumar D, President, ICAI 2026-27. The ICAI is trying to make a course curriculum for them and also guide CA firms on what kind of training has to be given to them.
 
Interacting with reporters on Wednesday, he said that the ICAI has submitted preliminary remarks to the MCA for the scheme, which is likely to be launched by June 2026. It has been suggested that graduates can be given a nine-month training, including around 45 days of theoretical work followed by six to seven months of practical on-the-ground training at CA firms.
 
Post-training, they would take an examination and then be certified as a corporate mitra. A monthly stipend of Rs 9,000 could be offered to these candidates during training.
 
“Following the training, the candidates may get interested in becoming a chartered accountant and could even enrol for the course,” he pointed out.  The ICAI is also setting up a Committee on Corporate Mitras to take forward this initiative.
 
Apart from the ICAI, other professional firms, including the Institute of Company Secretaries of India and the Institute of Cost Accountants of India, are also working with the MCA on the scheme to design training modules for Corporate Mitras.
 
“Government will facilitate Professional Institutions such as ICAI, ICSI, ICMAI to design short-term, modular courses and practical tools to develop a cadre of ‘Corporate Mitras’, especially in Tier-II and Tier-III towns. These accredited paraprofessionals will help MSMEs meet compliance requirements at affordable costs,” Finance Minister Nirmala Sitharaman had said in the Union Budget 2026-27 presented on February 1.
 
PMIS tweaks
 
Meanwhile, the ICAI has also recommended tweaks in the Prime Minister Internship Scheme to enable CA firms to also take interns through the scheme. It has been suggested to remove the provision of CSR funds as a requirement of the scheme and for the payment of the stipend. This would enable CA firms and other professional institutes to participate in the scheme, Prasanna Kumar noted.
 
In support of this initiative, ICAI is actively working with the MCA and coordinating with corporates to facilitate placements of interns who have completed the programme.
 
The Corporate Law Committee of ICAI also examined the CSR implications of trainee absorption and recommended that vocational training expenditure may qualify as CSR, while post-employment costs should be treated as normal business expenditure. This clarification would align CSR implementation with the legislative intent of Section 135 and Schedule VII and prevent divergent interpretations.
 
The MCA is understood to be working on the changes in the PMIS scheme, and its full-fledged rollout is likely in the coming months.
 
The ICAI President said that candidates who have passed Class 12 can then be offered an internship by CA firms and provided basic training in compliance work.