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Madhya Pradesh as the first state to have Jan-Dec fiscal year

Madhya Pradesh as the first state to have Jan-Dec fiscal year

Bhopal: After Modi’s proposal during the Niti Aayog meeting for change of financial year to January to December, now Madhya Pradesh has become the first state to adopt a January to December fiscal year.

The decision was made in a cabinet meeting led by chief minister Shivraj Singh Chouhan on Tuesday. Herewith Prime Minister Narendra Modi has also encouraged all the states for adopting this idea.

The meeting also decided that a picture of Pandit Deendayal Upadhyay will be issued with all the government letter heads, banners and advertisements.

Following a proposal from Modi, the Centre is in consultation with the states to have a January to December financial year, doing away with the old tradition of financial year starting on April 1 and ending on March 31. The system was adopted around 150 years ago during British rule.

Mishra said that it was also decided in the meeting that functioning of all departments would be reviewed on a quarterly basis.

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