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Govt is planning to change fiscal year to Jan-Dec: Goodbye to 150-yr old tradition

The Central government is planning to change fiscal year to January-December now goodbye to the 150-yr old tradition of April-March which is introduced by British.

“We have submitted our report. We have studied at length the feasibility and desirability of changing the financial year,” said former chief economic adviser Shankar Acharya.

Many experts Comes in support for this move, Ashok Gulati agriculture economist said:

“In case of a drought, which happens between June and September, a change in the accounting period from January to December will help in better budgeting. If the Union budget is presented in November, then early allocations will help the agro-economy and farmers,”

 

 

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