Finance Minister Arun Jaitley on Friday said the government is considering changing the financial year to January-December to coincide with the calendar year. “The matter of changing financial year is under consideration of the government,” Jaitley said in a written reply in the Lok Sabha.
The matter has been examined recently by a committee constituted by the government under the chairmanship of former Chief Economic Adviser Shankar Acharya. The report of the committee has been received, the Finance Minister said. Jaitley refused to comment on whether the government was proposing to present the Union Budget in November-December this year to enable the change in financial year.