Jharkhand has decided to become the second state in the country to reschedule its financial year from January to December.
"Jharkhand Chief Minister Raghubar Das in a meeting has directed the officials to spend the money of the current financial year's budget by end of December," said an official to IANS on Saturday.
"The new budget will be tabled in December," he added.
As per the direction of the Chief Minister the new fiscal year for Jharkhand would commence from January 1, 2018 and end on December 31, 2018.
In the earlier system, it commenced from April 1 and ended on March 31.
Madhya Pradesh was first state to adopt the new financial year.
In 2017, Jharkhand was the first state to table its budget in January.
--IANS
ns/in/vm
Disclaimer: No Business Standard Journalist was involved in creation of this content
