GST Hits the Planning of Modi’s Other Reform

Narendra Modi Government has hinted about changing the financial year to January-December. Subsequently, the Center planned to bring the next budget in November and asked the states to replicate the same from the next budget.

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But then, Center did not take a final call on this. States are opposing this move as there is utter chaos especially after they lost income due to GST. They opined that a new reform at this time is not necessary without clarifying the GST issues.

So, the center has dropped the idea for this fiscal. Andhra Pradesh government which had readied to table its budget in November also dropped the idea and the preparation for March Budget will begin in December only.