Finance Minister Arun Jaitley today said, the government is examining the report of the committee constituted to find out the desirability and feasibility of having a new financial year.
Responding to supplimentaries in the Lok Sabha, Mr Jaitley said, the suggestions were received from time to time for a change of financial year for various reasons. He said, the government had a committee in July last year to examine the merits and demerits of various dates for the commencement of the financial year including existing dates.
The four member committee was headed by former Chief Economic Advisor, Dr Shankar Acharya. He said several countries in the world have their financial year from January to December.