New Delhi 06: The Government of India today constituted a Committee to examine the desirability and feasibility of having ‘a new financial year’. The Committee headed by Dr. Shankar Acharya former Chief Economic Adviser has Mr K.M. Chandrasekhar a former Cabinet Secretary, Shri P.V. Rajaraman (former Finance Secretary, Tamil Nadu) and Dr. Rajiv Kumar a Senior Fellow, Centre for Policy Research as other Members.
The Committee will examine the merits and demerits of various dates for the commencement of the financial year including the existing date for the month of April to March, taking into account the various relevant factors.
The details on the Composition and the Terms of Reference of the Committee are uploaded on the website of Ministry of Finance. The Committee has been given time till 31st December, 2016 to submit its Report said the PIB press released.
