The Finance Ministry of Government of India has constituted a four members committee to examine the feasibility and desirability of having a new financial year. The Committee will examine the merits and demerits of various dates for the commencement of the financial year including the existing date (April to March), taking into account the various relevant factors. The Committee has been given time till 31st December, 2016 to submit its Report.
The Committee will be headed by Dr. Shankar Acharya (former Chief Economic Adviser) and will have Shri K.M. Chandrasekhar (former Cabinet Secretary), Shri P.V. Rajaraman (former Finance Secretary, Tamil Nadu) and Dr. Rajiv Kumar (Senior Fellow, Centre for Policy Research) as other Members. The committee will work on some different point of view like- Correct estimations of receipts and expenditure of Union and State Governments, effect of the different agricultural crop periods, taxation systems and procedures and Statistics and data collection etc.
So let’s discuss some questions related to this post :
1. Name the head of the committee which has been constituted by the GOI to examine desirability and feasibility of new financial year?
2. The Shankar Acharya committee has given how much time to submit its reports on desirability and feasibility of new financial year?
Courtesy: PIB News