Andhra News

AP State To Switch To Calendar Year From Jan 2018

The Government of AP is ready to migrate to the calendar year system as informed by the Finance Minister Yanamala Ramakrishnudu. This change is being done in accordance with the policy of the Central Government.
As result of which the Budget will be presented by the Government in the month of December and changed financial year will commence from 01-01-2018.Since the earlier budget was presented in the template of April-March, the accounts pertaining to allotted funds will be settled by December.
Further, the plan and non-plan expenditure classification has been changed to the system of expenditure as revenue and capital. These structural reforms are taken by India to make the economy fit for the developments and protect the future generations. This system will ensure balanced budget and reduce burden of long term debt.
This reform will also help in proper planning of agricultural production cycle as the agri-season start from June –July.

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