“We are in discussions with Government and modalities are being worked out,” said Amit Anand Apte, President, Institute of Cost Accountants of India (ICMAI) on Thursday (14 February).

“Most of the SMEs are facing problems and we want to train one lakh accountants over next one year.” he added.

He, however, noted that the requirement for GST accountants for SMEs could be 2 lakh in the country.

Though the cost of the 50-hour course could be around Rs 5,000 per candidate, it will be effectively free for students as the Centre will bear the total cost of course for one lakh candidates.

ICMAI will conduct an all-India entrance exam with a nominal fee to select trainees.

All commerce graduates and those who are pursuing graduation can apply the exam.