Chief Minister K. Chandrasekhar Rao is in favour of introducing the financial year co-terminus with calendar year — from January 1 to December 31. In line with the Centre’s thought process and its proposed policy, the State has plans to go for calendar year budget and Mr. Rao held discussions on the subject with the Finance Department officials. He asked Finance Minister Eatela Rajender, Principal Secretary Finance S. Ramakrishna Rao and other officials to visit Madhya Pradesh to study its budget process as that government already switched over to the new format.
