Not a real reform

There is little logic in changing the financial year

A few months after advancing the date of presentation of the Union Budget, Prime Minister Narendra Modi has now asked state governments to consider changing the financial year to January-December. This, in turn, will imply advancing the date for Budget presentation yet again. Mr Modi has reportedly argued that in a country like India, where agricultural income is extremely important, Budgets should be prepared immediately after the receipt of agricultural income for the year. This is not a new demand: The call for changing the financial year has been coming up with unfailing regularity, especially when the country experiences widespread