gfiles magazine

August 12, 2016

Why change the financial year?

The government has appointed a committee to consider a change in the financial year but without specifying any reasons for the need to do so

One morning’s newspapers carried the news that the central government has decided to consider a change in the present Financial Year [April 1 to March 31] without any demands surfacing from any quarters. Simultaneously, an announcement was also made about the constitution of a four-member committee, comprising of three retired bureaucrats, one of them being the retired Chief Economic Advisor of the Government of India and the Chairman of the committee.

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