Madhya Pradesh Govt has decided to put its plan of shifting from April-March Financial year to Jan-Dec financial Year on the back burner. MP was the first state of India to make announcement regarding the shifting of its financial year to Jan-Dec. The state has announced it on May 2, 2017 through Narottam Mishra – Madhya Pradesh Public Relations Minister and government spokesman.
The BJP led MP government has now stated that it will wait for center to implement this first and then after that they will shift to this new financial year methodology.
The decision of shifting financial year by MP government was influenced by PM Narendra Modi’s speech while addressing to states on April 23. Modi had said in his speech that in a country where agricultural income is exceedingly important, budgets should be prepared immediately after the receipt of agricultural incomes for the year.
After that addressing, MP government made announcement on May 2 that they will be using Jan-Dec as financial year instead of April-March but the decision has been hold back now and state will continue with current financial year term.