Expert-committee chaired by known economist LK Jha which was set up by Union Government to suggest new financial-year, had suggested systematic calendar-year of January-December to replace current system of April-March financial-year due to multiple advantageous, and also to be in tune with most other countries of the world. But as usual, recommendations of LK Jha committee set up at high cost were dumped by the then political rulers without being implemented. It is time that both financial and working year for the complete country may be unified as the systematic calendar year to replace present financial-year of April-March which is being in continuation as a British legacy even after seven long decades of the country having achieved independence.
Madhu Agrawal
(The views expressed by the author in the article are his/her own.)
