Financial Year Switch

With the spreads on home loans coming down, those who have a good credit score should consider refinancing

How financial year changed over the time

Industry sources also said it will help in ease of doing business

New Delhi, 24 April Prime Minister Narendra Modi's request to states for reactions to a proposal for a change in the financial year to January-December from the current April-March indicates the government's seriousness in pursuing what will be a major governance change.Senior officials have told Business Standard the Centre is seriously considering the shift. The process of studying the feasibility and drawbacks have picked up pace after the end of the latest session of Parliament, it is learnt.At the Niti Aayog governing council's meeting on Sunday, Modi told state chief ministers there had been suggestions in this regard. Policy watchers and economists say such a decision needs to be a well-planned one, after discussion with all stakeholders."Feasibility is not an issue with regard to either an April-March year or a January-December year. Both have positives and drawbacks. What is important is the information and data the government goes in with while preparing its budget," said ..