January-December fiscal year gets thumbs-up from exporters

Industry sources also said it will help in ease of doing business

Exporters have said that any change in the financial year to align with the calendar one is a welcome move.

On Tuesday, the Madhya Pradesh government became the first state to announce that it is shifting to the January-December cycle.

On a national level, the Centre has also started making preparations for switching over to a similar financial year cycle. It had also constituted a high-level committee under former chief economic advisor Shankar Acharya to examine the possibility of making such a move.

“Since most other countries follow a January-December financial year, any move in this direction will be helpful,”