The Madhya Pradesh government during the state cabinet meeting held today decided to shift to January-December fiscal year format from the present April-March cycle.
“The state cabinet in its meeting chaired by Chief Minister Shivraj Singh Chouhan today decided to shift the fiscal year January to December. So, now the budget session of the next FY would be held in December-January,” state Public Relations Minister Narottam Mishra told reporters after the cabinet meeting.
When asked about the ongoing fiscal 2017-18, the minister said that the state government would try to finish the current budget proceedings by December this year. “So the next budget would either be presented in December this year or January next year,” he added.
Later, briefing reporters about the meeting, Niti Aayog vice chairman Arvind Panagariya also said the prime minister wants that “we should think of January-December financial year as this is appropriate from the point of view of farmers”.
