Andhra Pradesh, Telangana ready for Jan-Dec FY format; await Centre's nod

Madhya Pradesh was the first state to announce that it would implement the new FY format

Andhra Pradesh and Telangana along with Madhya Pradesh are waiting for a nod from the Centre to switch to the cycle of January-December financial year (FY) starting next calendar year.

Chief ministers of both the southern states have already instructed senior officials of the finance departments of their respective states for necessary steps to align to the new FY format whenever the Government of India decides to do so.

However, the Centre is yet to communicate to the states on whether they should start preparations to adopt the new cycle from next calendar year, in continuation with the suggestion made by Prime Minister