Financial year to start from January 1st: New policy on financial year

january 1

For many decades India is following the March-April financial year policy which was introduced by British in the year 1867. Recently the Indian government has changed the rule and adjusted the financial year to April-March financial year. Since past few decades India never changed this rule and followed the same policy which was introduced by British.

However even the new April-March financial year is also bit same like the policy which was introduced by British. Now a new demand has come up in the parliament that India should totally banish this April-March financial year policy and it should come with its own financial year rule. India should consider January- December financial year in the coming years.

new year eve

When government adjusted the rule to April-March financial year, Congress MP Verappa Maili financial trust has criticized the new rule and suggested that government must have worked more on this aspect. It would be better if we keep financial year in the beginning of the year. For this the government should take all the precautions and guidelines in the coming year.

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By keeping this in view, Government should make possible adjustments in their budget and the budget date should be prepone than earlier. The financial year should be balanced along with the calendar year. However there are no official comments on this aspect from the government. We have to wait and see whether if the financial year jumps to January. Stay tuned to for more updates on financial year. What do you think on this? Do you think it would be better if the financial year comes to January? Let us know your opinion in the comment section below.

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