Jan-Dec financial year is the next big change coming!

Finance Minister Arun Jaitley today hinted at a big change in the financial calendar and mentioned that the government is taking into account to change of the financial year to January-December so as to correspond with the calendar year.

Giving a written reply in the Lok Sabha, Finance Minister Arun Jaitley stated: “The matter of changing financial year is under consideration of the government.”

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He further mentioned that the matter has been examined lately by a committee constituted by the government under the chairmanship of former Chief Economic Adviser Shankar Acharya and the report of the committee has been received.

Jaitley however denied commenting on whether the government was proposing to present the Union Budget in November-December this year to facilitate the change in financial year.

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