Practicing Success
Time period of a financial year in India is________________. |
1 January - 31 December 13 April - 13 March 1 April - 31 March 14 January - 31 December |
1 April - 31 March |
There is a constitutional requirement in India (Article 112) to present before the Parliament a statement of estimated receipts and expenditures of the government in respect of every financial year which runs from 1 April to 31 March. This ‘Annual Financial Statement’ constitutes the main budget document of the government. |