The Union government is taking preparatory steps to switch over to a new financial year cycle that will start from January and end in December. At present, the government’s financial year starts in April and ends in March.   According to top government sources, the switch-over will be a gradual process. To begin with, the next Union Budget presentation date is likely to be advanced by about a month, to prepare the ground for a change in the financial year.

The Union government is taking preparatory steps to switch over to a new financial year cycle that will start from January and end in December. At present, the government’s financial year starts in April and ends in March.   According to top government sources, the switch-over will be a gradual process. To begin with, the next Union Budget presentation date is likely to be advanced by about a month, to prepare the ground for a change in the financial year.