ICoAS fraternity reaffirms commitment to cost optimisation for Atmanirbhar Bharat on ICoAS day 2026
Shri. Rajesh Kumar Singh, Secretary, Department of Defence, Ministry of Defence, graced the Foundation Day celebration of the Indian Cost Accounts Service (ICoAS), organised under the aegis of the Department of Expenditure, Ministry of Finance, as the Chief Guest, in New Delhi today. Shri. Sanjeev Kumar, Secretary, Department of Defence Production, Ministry of Defence, was present on the occasion as the Guest of Honour. This year's celebration was observed under the theme "Role of ICoAS Officers in Cost Optimization for Atmanirbhar Bharat", reflecting the growing significance of cost and fiscal efficiency in furthering India's pursuit of self-reliance leading to Viksit Bharat.
Delivering the keynote address, Shri. Rajesh Kumar Singh, Secretary, Department of Defence lauded the professionalism, analytical acumen and steadfast dedication of ICoAS officers in strengthening cost management practices across Government Ministries and Departments. He observed that the Service has consistently played a catalytic role in advancing the vision of Atmanirbhar Bharat through judicious cost optimization, prudent resource utilisation and robust financial oversight, particularly in Defence Sector.
In his address as Guest of Honour, Shri. Sanjeev Kumar, Secretary, Department of Defence Production, drew attention to the increasing relevance of cost accounting expertise in bolstering indigenous manufacturing capabilities thereby not only reducing India's reliance on imports, but also be competitive in export market. He commended the unique and strategic role of ICoAS officers with the Defence Production ecosystem and called for reinvention of the service and its functioning in the changing defence acquisition scenarios and to develop deeper synergy between ICoAS officers and strategic sectors in furtherance of national self-reliance.
Shri V. Vualnam, Secretary, Department of Expenditure (DoE), Ministry of Finance, conveyed his warm greetings to the officers on the occasion of ICoAS Day 2026 through a video message. He highlighted the valuable contribution of ICoAS officers towards effective cost management in the Government of India. He further emphasized that, with the increasing participation of the private sector and the growing adoption of Public-Private Partnerships (PPPs) in advancing the vision of Atmanirbhar Bharat, ICoAS officers will have a significant role in ensuring cost efficiency, appropriate risk allocation and sound project structuring.
On the occasion, a commemorative e-brochure of the ICoAS was released, chronicling the evolution, key functions, notable achievements and capacity-building initiatives undertaken by the Service.
Earlier in the programme, Shri Anand Kumar Pal, Chief Adviser (Cost) and Head of ICoAS conveyed his warm wishes to the officers of ICoAS service and urged them to embrace technology and innovation to be the financial analysts for the Government of India. He also stressed the officers to uphold the highest standards of integrity and professionalism and to adopt latest financial modelling tools; advanced techniques for data visualisation; analytical frameworks that support farsighted financial advice and sound policy design for moving towards Viksit Bharat.
Shri. Rohin Koppuravuri, Joint Director (Cost) gave a presentation on the Service's journey, evolution, its contribution and the future course of action to be undertaken to meet the evolving demands of public financial management and to ensure “Maximum Value for every Rupee spent”.
In recognition of outstanding contribution, six young ICoAS officers were felicitated by Shri. Rajesh Kumar Singh, Secretary, Department of Defence, with 'Sarvottam', 'Ati Uttam’,'Uttam' and 'Protsahan' appreciation certificates instituted to encourage and acknowledge the meritorious efforts of young officers of the Service.
The inaugural session was followed by two engaging technical sessions marking the ICoAS commitment to innovation, continuous learning and professional excellence.
In the first technical session, Shri Nandkumaram spoke on the "Use of Artificial Intelligence in Public Financial Management", elaborating on the transformative potential of Artificial Intelligence in enhancing efficiency and AI Interventions across Public Finance Value Chain for cost and financial management functions across Government.
The second technical session saw Shri Arvind Raj address the officers on "Stress Management", sharing valuable insights and practical strategies to help officers maintain mental well-being and professional resilience amidst demanding official responsibilities.
The celebration drew enthusiastic participation from senior officials across Ministries and Departments, reaffirming the indispensable role of ICoAS in policy formulation, cost management and efficient public expenditure.
ICoAS Day 2026 thus served as a valuable platform for capacity building, knowledge exchange and strategic dialogue, reinforcing the Service's unwavering commitment to a self-reliant and economically resilient Viksit Bharat.
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SR/KMN