Madhya Pradesh Becomes First State With January to December Fiscal Year

Prime Minister Narendra Modi thinks that January December financial year is appropriate from the point of view of farmers

An official communication asking ministers in Shivraj Singh Chouhan government to carry lunch packets to the Cabinet meeting, scheduled to be held here on Tuesday, has taken them by surprise.

The cabinet decision was made public by the minister for public relations and government's official spokesperson, Dr Narottam Mishra.

He pointed out that the financial year - as per Income Tax Act, Companies Act and Goods and Services Tax (GST) Act - is still from April to March.

The earlier window was adopted to coincide with the British financial year. "The next budget will be presented in December this year or January 2018", he added. Discussions are underway, Mishra said, reiterating that the MP government will "try to finish the current budget proceedings by December this year".

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Referring to the change in the budget dates, he said in a country where agricultural income is exceedingly important, budgets should be prepared immediately after the receipt of agricultural incomes for the year.

Niti Aayog in a paper advocated the move last year to change the financial year to Jan-Dec.

The Chief Minister also issued instructions to clearly chalk out the programmes to be completed in quarterly, half-yearly and annual fashion.

"Niti Aayog is working on a 15-year long term vision, 7-year medium-term strategy, and 3-year action agenda", Modi said, adding the vision of "New India" can only be realised through the combined efforts and cooperation of all the states. Many ministers are said to have failed to review the progress of campaign in the districts under their jurisdiction.Chouhan said the ministers should tour their home districts and districts under their charge three days a week to review the progress of Gramodaya campaign and take part in Gram Sansad, Mahila Sansad and Kisan Sammelans.

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