Question

Mention the financial year or fiscal year of India.

Answer 1

The financial year or the fiscal year in India is from 1st April of a year to 31st March of the next upcoming year. All the government budget, financial rules and policies are framed according to the fiscal year. The Annual Financial Statement made by our government consists of the main budget document of the government. The budget made by the government is an annual financial statement which depicts the revenues and expenses for a financial year which is moved by the legislature, and signed by the chief executive or president. This budget is given by the Finance Minister of our country. Budget is also referred to as the Annual Financial Statement of the nation.