The financial year should start from Jan 1st. This will need modifications in exemption limit in the year of transition but that should be alright. Calender year and financial year being same will eliminate a lot of confusions. The union budget should also be presented a bit earlier in the morning than dragging in to late night. We Indians are early risers and budget presentation should follow our time table, not British legacy.

Chaitr or Chithirai month of Hindu will have Uthirayanam (Sun changes it is motion from North to South) which is considered very auspicious and New Year starts for all Hindus and new Panchang will come into force.. Indian Government followed Indian Culture and the Financial Year being followed based on Hindu Phylosophy. European, Russian, American and other christian Countries followed Bible and they have Calender System in vogue for all of their financial system. Hence no need to change FY.

Yes, it should be changed to and calendar year as financial year and coincide with the Calendar Year (1st Jan-31st Dec), as most of the world whom India does business with (especially western countries) have calendar year as their financial year and it would greatly help! Secondly, it should be mandatory to spend the budgeted allocation and grants on quarterly basis, else every thing gets dragged to end of the fiscal year and misses the due date to spend, throwing the growth and deveplt offtrack

This would be a completely wasteful exercise. Managing such a change would be take huge monetary and time investment which we cannot afford as of now. There are so many pressing issues to be resolved before we get into such customary changes. Anyways any new cycle would have its own challenges..

#MyGov: It is immaterial whether the financial year is from April-March or January-December. The change will only coincide with the calendar year. The budget exercise should be completed before the start of the financial year. Now it is completed sometime in May. What is more important is collection of more tax. Now ridiculously small number of high net worth individuals are paying income tax even in the days of Digital India. It is time for the IT department to bring them to the tax net.

Its good idea to change the financial year and the budget presentation also needs to be changed. So we will have uniform practice across world. Due to globalisation , for big conglomerates will help them to have uniform financial year. #financialYear

I think it should not be changed bcoz there is lot of workload in ending and if it shifted to dec end then employess cant able to enjoy new year and chritmas which is a holyday period in india #financialyear

we suggest that each state should follow their respective calendar year to prove how best its economy is and invite competition to showcase goodness/ betterment vs bad of each state. after all we are warriors. economy is driven by calendar or the ability to drive benefits for its citizens. how does alteration shall help. china follows a difference system than rest of the world but all mfg are located at china. how and why ?

Since we are accustoms with calendar year i.e. Jan to December; our financial year should same with calendar year. Unnecessarily we are complicated our financial matter, it is the time for change and rectify.

Primary condition is budget implementation date can be 1-2 months later than financial year ending enabling the company budget preparation and financial planning.After maintaining this condition financial year can be changed as requested by various people.