Is the country getting a new fiscal year cycle?

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  23,518.50</h5> <p id="tdnifty" class="text-green">+ 64.70</p> </div><div class="sensex-data undefined"> <h5>CRUDEOIL   5,831.00</h5> <p id="tdnifty" class="text-red"> -27.00</p> </div><div class="sensex-data undefined"> <h5>GOLD   76,059.00</h5> <p id="tdnifty" class="text-green">+ 472.00</p> </div><div class="sensex-data undefined"> <h5>SILVER   90,247.00</h5> <p id="tdnifty" class="text-red"> -373.00</p> </div> </div> <div id="mob" class="sensex-ticker"> <div id="slideset1"> <div style="width:100%"> <div class="sensex-data width50imp"> <h5>SENSEX   77,578.38</h5> <p id="tdnifty" class="text-green">+ 239.37</p> </div><div class="sensex-data width50imp"> <h5>NIFTY   23,518.50</h5> <p id="tdnifty" class="text-green">+ 64.70</p> </div> </div> <div style="width:100%"> <div class="sensex-data width50imp"> <h5>NIFTY   23,518.50</h5> <p id="tdnifty" class="text-green">+ 64.70</p> </div><div class="sensex-data width50imp"> <h5>CRUDEOIL   5,831.00</h5> <p id="tdnifty" class="text-red"> -27.00</p> </div> </div> <div style="width:100%"> <div class="sensex-data width50imp"> <h5>CRUDEOIL   5,831.00</h5> <p id="tdnifty" class="text-red"> -27.00</p> </div><div class="sensex-data width50imp"> <h5>GOLD   76,059.00</h5> <p id="tdnifty" class="text-green">+ 472.00</p> </div> </div> </div> </div> </div> </div> </div> </section> <script type="text/javascript"> setInterval(refershTickerData, 120000, 'https://cmpapi-prod.businessline.in/cmots/ticker/samecodebase/'); function refershTickerData(api) { const options = { timeZone: 'Asia/Kolkata', hour12: false }; const currentTime = new Date().toLocaleString('en-IN', options); // Extracting the hours and minutes in IST const currentHour = parseInt(currentTime.split(', ')[1].split(':')[0], 10); const currentMinute = parseInt(currentTime.split(', ')[1].split(':')[1], 10); // Indian time check: 9:16 AM to 4:00 PM if ((currentHour > 9 || (currentHour === 9 && currentMinute >= 16)) && currentHour < 16) { refersh(api); // 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id='div-gpt-ad-1724225367205-0' class='dfp-ad no-text' style=''><script>if(getStorage('/22390678/BL_MWeb_Interstitial') == 1) {if (isDeviceEnabled("small")) { googletag.cmd.push(function() { googletag.defineSlot('/22390678/BL_MWeb_Interstitial', [1, 1], 'div-gpt-ad-1724225367205-0').addService(googletag.pubads()); }); }userIdentify.then(function() {if(isDeviceEnabled("small") && isNonSubcribedUser()) {googletag.cmd.push(function() { googletag.display('div-gpt-ad-1724225367205-0'); }); } });} else{ setStorage('/22390678/BL_MWeb_Interstitial',1,1) }</script></div></div><div class="w-two-thirds-l cl"><div class="title mt-0"><h1> Is the country getting a new fiscal year cycle? </h1></div><div class="bl-by-line"> Updated - January 17, 2018 at 07:41 PM. | <span class="blue-color ksl-time-stamp dateline"> New Delhi, July 6 </span></div><div class="authors bylinefield"> By <span class="text-uppercase"><a href="/profile/author/OUR-BUREAU/" class="person-name lnk">OUR BUREAU</a></span></div><div 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"><div class="picture verticle "><picture><source media="(min-width: 1600px)" sizes="960px" srcset="https://bl-i.thgim.com/public/migration_catalog/article18308351.ece/alternates/LANDSCAPE_1200/north-block-finance%20ministry" /><source media="(min-width: 768px) and (max-width: 1599px)" sizes="640px" srcset="https://bl-i.thgim.com/public/migration_catalog/article18308351.ece/alternates/LANDSCAPE_1200/north-block-finance%20ministry" /><source media="(min-width: 321px) and (max-width: 767px)" sizes="400px" srcset="https://bl-i.thgim.com/public/migration_catalog/article18308351.ece/alternates/LANDSCAPE_660/north-block-finance%20ministry" /><source media="(max-width: 320px)" sizes="320px" srcset="https://bl-i.thgim.com/public/migration_catalog/article18308351.ece/alternates/LANDSCAPE_320/north-block-finance%20ministry" /><img alt="north-block-finance ministry" src="https://assetsbl.thehindubusinessline.com/theme/images/th-online/1x1_spacer.png" data-original="https://assetsbl.thehindubusinessline.com/theme/images/th-online/1x1_spacer.png" class="lead-img"></picture></div><p class="caption"> north-block-finance ministry </p></div></a></div><span class="bg-text-light">north-block-finance ministry <span class="fw3"></span></span></div></div><div id="ControlPara" class="contentbody verticle-content "><div id="content-body-64315076" itemprop="articleBody" class=" col-md-12 bl-news-section-split"><p>Some 150 years after the British set India’s financial year from April 1 to March 31, the government is now looking to re-set the fiscal time-cycle.</p><p>The Finance Ministry has set up a committee under Shankar Acharya, a former Chief Economic Adviser to the Finance Ministry, to examine the “desirability and the feasibility of a new financial year”. The committee is expected to submit its report by December 31.</p><p>The members of the Shankar Acharya panel include former Cabinet Secretary KM Chandrasekhar, former Finance Secretary to Tamil Nadu PV Rajaraman, and Senior Fellow at the Centre for Policy Research Rajiv Kumar.</p><p>India follows the April 1-March 31 fiscal cycle, but many countries and multinational companies follow the calendar year (January 1-December 31).</p><p>Alternatively, the financial year can also coincide with the start of the cropping/harvest season.</p><p>“We are exploring… Factors such as the monsoons can also be dealt with more effectively if the financial year starts early,” said a source in the Ministry.</p><p>Officials said that such a move could help in more effective implementation of policies and Budget announcements.</p><p>The Acharya Committee will take into account factors such as the correct estimation of receipts and expenditure of the Centre and States, the effect of the different crop periods, the relationship between the financial year and the working season, the impact on businesses, statistics and taxation, and the timeline for Budget-making by the legislature.</p><p>“In case a change in financial year is recommended, the Committee has also been asked to work on the modalities of effecting the change,” the Ministry said.</p><p>In 1867, the British had set India’s financial year from April to March, to align it with its own fiscal cycle.</p><p>In 1984, the LK Jha Committee had recommended that the financial year should start from January mainly considering the impact of the South-West monsoon on the economy. 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}); return } // If user is already logged in, Do nothing with response_id or redirect_uri // else if (window.tp && window.tp.pianoId.isUserValid()) return; const options = { method: 'POST', headers: getHeaders(), body: JSON.stringify({ "response_id": response_id, "pubId": "BL" }) } fetch(response_ep, options) .then(function(res) { if (!res.ok) throw new Error(res.statusText) return res.json() }) .then(function(res) { console.log(res) // return if response is not ok OR no access token is present if (!res.data.status === "ok" || !res.data.access_token) return if(window.tp.pianoId) tp.push(['init', function() { try { let parsedToken = parseJwt(res.data.access_token) dataLayer = window.dataLayer || []; dataLayer.push ({ 'event' : 'login_successful', 'data' : { 'onetap_signin': 'yes', 'email': parsedToken.email, 'uid': parsedToken.sub, 'platform': 'WEB' } }); } catch (error) { console.log("onetap-signin-err", error); } tp.pianoId.loginByToken(res.data.access_token) setTimeout(function() { window.location.replace(res.data.redirect_uri) }, 1000); }]) else window.location.replace(res.data.redirect_uri) }) .catch(err => console.error("Error: ", err)); } function getHeaders() { return { "Accept": "application/json, text/plain, */*", "Authorization": "Basic dGhlaGluZHU6a251cl9DSC1BNVBZVSU4Vw==", "Content-Type": "application/json", } } </script><script> window.tp.push([ "init", function () { if (window.tp.pianoId.isUserValid()) loadScript("https://assetsbl.thehindubusinessline.com/theme/js/vue-petite.min.js?ver=1727949689") } ]) </script><style> .link a { color: white !important; } .device-info { margin-right: 4px; } .popup-background { background: rgba(0, 0, 0, 0.4); position: fixed; width: 100%; height: 100%; top: 0; left: 0; display: flex; align-items: center; justify-content: center; z-index: 99999; } [v-cloak] { display: none; } .popup { width: 100%; max-width: 800px; height: auto; background: #000000; padding: 50px 100px 50px 150px; color: #ffffff; position: relative; } .popup .popup-close { color: white; border: none; background: none; padding: 0; margin: 0; position: absolute; top: 10px; right: 10px; font-size: 20px; font-weight: 200; line-height: 20px; } .popup .title { font-family: "Merriweather", serif; font-size: 18px; line-height: normal; text-align: left; display: flex; align-items: center; position: relative; min-height: 50px; } .popup .title::before { content: ""; width: 50px; height: 50px; /* background: url("../../public/icons/h-circle-white.svg") no-repeat center; */ background-size: 50px 50px; display: block; position: absolute; left: -65px; } .popup .sub-text { font-family: "Merriweather", serif; font-size: 18px; line-height: normal; margin: 15px 0; } .popup .popup-btn { background-color: #ffffff !important; color: #000000 !important; font-weight: bold; width: max-content; min-width: 130px; height: 34px; text-align: center; box-sizing: border-box; border-radius: 4px; border: none; cursor: pointer; font-size: 12px; padding: 9px 10px 13px 20px; text-transform: uppercase; margin: 25px auto; display: block; font-family: "Merriweather Sans", sans-serif; transition: all 0.3s; } .popup .popup-btn:focus { box-shadow: none; outline: none; } .popup .popup-btn:after { content: "→"; position: relative; opacity: 0; top: -1px; right: 15%; transition: 0.3s; } .popup .popup-btn:hover { padding-right: 20px; padding-left: 10px; color: #000000; text-decoration: none; outline: none; } .popup .popup-btn:hover::after { opacity: 1; right: -8px; } .popup .device-list { list-style: none; margin: 0; padding: 0; } .popup .device-list li { width: 100%; padding: 10px 0; display: flex; justify-content: space-between; align-items: center; } .popup .device-list li > div { display: flex; justify-content: left; align-items: flex-start; } .popup .device-list li .s-no { font-family: "Merriweather Sans", sans-serif; font-size: 16px; text-align: right; width: 10px; } .popup .device-list li .icon { content: ""; width: 20px; height: 20px; /* background: url("../../public/icons/profile-white.svg") no-repeat center; */ background-size: 20px 20px; display: block; margin: 4px 10px 0; } .popup .device-list li .device { font-family: "Merriweather Sans", sans-serif; font-size: 16px; text-align: left; line-height: normal; } .popup .device-list li .device span { display: block; font-family: inherit; } .popup .device-list li .popup-btn { margin: 0; } .popup p.link { font-family: "Merriweather Sans", sans-serif; font-weight: 200; text-align: center; font-size: 14px; margin: 20px auto 0; } .popup p.link a { font-weight: inherit; font-family: inherit; text-decoration: underline; text-underline-offset: 3px; transition: all 0.3s; } .popup p.link a:hover { text-decoration: none; } .popup p.link span { color: #555555; font-size: 18px; line-height: 0; position: relative; top: 3px; } @media screen and(max-width: 700px) { .popup { padding: 40px 40px 40px 90px; } } @media screen and(max-width: 570px) { .popup { width: 100%; max-width: 100%; padding: 35px 25px; } .popup .popup-close { font-size: 17px; line-height: 17px; } .popup .title { font-size: 14px; min-height: auto; padding-left: 60px; margin-bottom: 25px; line-height: 24px; } .popup .title::before { left: 0; } .popup .sub-text { font-size: 14px; margin: 15px 0; line-height: 24px; } .popup .popup-btn { /* width: 80px; */ height: 30px; font-size: 10px; padding: 9px 0 13px 10px; margin: 15px auto; } .popup .popup-btn:hover { padding-right: 10px; padding-left: 0; } .popup .device-list { list-style: none; margin: 0; padding: 0; } .popup .device-list li { padding: 7px 0; } .popup .device-list li .s-no { font-size: 13px; width: 5px; } .popup .device-list li .icon { width: 15px; height: 15px; background-size: 15px 15px; margin: 2px 7px 0; } .popup .device-list li .device { font-size: 12px; font-weight: normal; } .popup p.link { font-size: 12px; margin: 15px auto 0; } .popup p.link a { text-underline-offset: 2px; } .popup p.link span { color: #555555; font-size: 18px; line-height: 0; position: relative; top: 3px; } } </style><div class="popup-background" id="user-session-popup" v-show="store.session_limit_exceeded === true" v-scope v-cloak><div class="popup" style="padding: 25px;"><button class="popup-close" onclick="window.tp.pianoId.logout()">✕</button><div class="title">Looks like you are already logged in from more than 3 devices!</div><div class="sub-text">To continue logging in, remove at least one device from the below list</div><ul class="device-list"><li v-for="device_detail, index in store.device_info" :key="index"><div class="device-info" v-scope="DeviceInfoComponent({index, ...device_detail})"></div><button class="btn popup-btn" @click="sendDeleteRequest([device_detail.payload], 'single')">Log out</button></li></ul><button class="btn popup-btn" @click="sendDeleteRequest(store.device_info.map(di => di.payload), 'all')">Log Out from all devices</button><p class="link"><a href="https://www.thehindugroup.com/privacy.html" target="_blank">Terms & conditions</a><span>  |  </span><a href="https://forms.office.com/r/tz7UETzxUs" target="_blank">Institutional Subscriber</a></p></div></div><template id="device-info"><span class="s-no">${ ind + 1 }</span><span class="icon"></span><span class="device"> ${ device }<span class="duration">Last active - ${ la }</span></span></template><script>const us_api_domain = "/";</script><script src="https://assetsbl.thehindubusinessline.com/theme/js/user_session.min.js?ver=1727949847"></script></body></html>

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