Not a real reform

There is little logic in changing the financial year

Business Standard Editorial Comment 

A few months after advancing the date of presentation of the Union Budget, Prime Minister Narendra Modi has now asked state governments to consider changing the financial year to January-December. This, in turn, will imply advancing the date for Budget presentation yet again. Mr Modi has reportedly argued that in a country like India, where agricultural income is extremely important, Budgets should be prepared immediately after the receipt of agricultural income for the year. This is not a new demand: The call for changing the financial year has been coming up with unfailing regularity, ...

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Not a real reform

There is little logic in changing the financial year

There is little logic in changing the financial year A few months after advancing the date of presentation of the Union Budget, Prime Minister Narendra Modi has now asked state governments to consider changing the financial year to January-December. This, in turn, will imply advancing the date for Budget presentation yet again. Mr Modi has reportedly argued that in a country like India, where agricultural income is extremely important, Budgets should be prepared immediately after the receipt of agricultural income for the year. This is not a new demand: The call for changing the financial year has been coming up with unfailing regularity, ... image
Business Standard
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