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Telangana mulls budget as per calendar year
After Madhya Pradesh, Telangana government has plans to make the state budget as per the calendar year, replacing the system of having the financial year from April 1 to March 31.
Hyderabad: After Madhya Pradesh, Telangana government has plans to make the state budget as per the calendar year, replacing the system of having the financial year from April 1 to March 31.
"Chief Minister K Chandrashekhar Rao has said that in tune with the Centre's thought process and in accordance with its proposed policy, the state government has plans to introduce the Budget from the calendar year to calendar year (January 1 to December 31)," a release from Rao's office said.
Rao instructed finance minister E Rajender and officials to visit Madhya Pradesh, which decided to announce shifting of its financial year format to January-December from the present April-March cycle, it said. The BJP-ruled Madhya Pradesh recently switched its fiscal year to calender year early this month.
