Following the Budget announcement, ‘Corporate Mitra Scheme’ has a got big boost with four professional institutes signing Memorandum of Understanding (MoU) for the launch. These institutions are Institute of Chartered Accountants of India (ICAI), the Institute of Company Secretaries of India (ICSI), the Institute of Cost Accountants of India (ICMAI) and the Indian Institute of Technology, Madras (IIT-Madras).

“The Professional Institutes i.e, ICAI, ICSI & ICoAI along with IIT Madras have joined hands through a collaborative framework supported by the Ministry of Corporate Affairs to build a cadre of Corporate Mitras to support MSMEs in regulatory compliance and business growth,” Corporate Affairs Ministry said in a social media post.

On February 1, in her budget speech, Finance Minister Nirmala Sitharaman had said: “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.”

The scheme is an initiative of the Corporate Affairs Ministry to build a pool of qualified and trusted paraprofessionals to support MSMEs in their regulatory, financial, accounting, and governance-related needs. These Mitras will provide affordable and accessible support in areas such as compliance, GST, accounting, financial guidance, labour and environmental compliance, and secretarial services, ensuring that MSMEs can focus on innovation and growth while meeting regulatory requirements with ease. To ensure wider outreach, Corporate Mitras will primarily operate in Tier-2 and Tier-3 cities, extending professional assistance to enterprises in emerging business centres across India, a government portal ‘myGov’ said.

For students, want to be enrolled under the scheme, minimum educational qualification will be graduates in any discipline from a recognized university. Course fee will be ₹3,000 plus GST. However, women candidates and candidates from Northeastern States, Himalayan Regions, Andaman & Nicobar Islands and Lakshadweep with get 50 per cent concession. Course duration will be 12 months (comprising 120–180 hours of structured learning and practical exposure). This will comprise 6 months for Foundational Course and remaining 6 period for on-the-job training with MSMEs and professional firms, along with monthly in-person sessions and handholding by the professional institutions.

The course will cover Book-Keeping, Accounts and Taxation, GST and Indirect Tax Compliance, Financial Management, Banking & Funding, Corporate Law and Regulatory Compliance including labour and environmental compliances, MSME Ecosystem and subsidies, AI for Professional Excellence and other related professional areas such as TReDs platform and accounting software.

According to the government, the scheme will facilitate direct industry attachment with MSMEs and professional firms. It will also help in practical exposure to compliance, accounting, and governance processes, besides mentorship from experienced professionals to build confidence and skills besides structured reporting and monitoring to ensure quality outcomes.

Published on June 26, 2026