New Delhi: The finance ministry informed Lok Sabha on Friday in a written response to a question that the government was considering syncing the April-March financial year to the calendar year. It, however, did not specify from when this might happen.
A government official, who spoke on condition of anonymity, said that the issue of shifting to a January-December financial year was under consideration, but it was unlikely that it would be implemented from next year considering the preparations needed for it.
“Changing the government’s IT systems from April-March to January-December and reorganising data is a huge task and it needs time. However, if a decision is taken to implement it from next year, we, certainly will do everything to accomplish it. It would mean processing data manually till the IT system is ready,” said the official.
Madhya Pradesh has already announced its intention to move to a January-December financial year.