Telangana plans budget in calendar year format

Hyderabad May 16 (IANS) Telangana plans to introduce state budget in calendar year format in tune with the Centre s thought process and in accordance with its proposed policy Chief Minister K. Chandrasekhar Rao announced on Tuesday.

Under the proposal the budget will be presented for calendar year (January 1 to December 31) instead of the existing format of financial year (April 1 to March 31).

According to a statement from the Chief Minister s Office he is holding discussions with higher officials and the state s finance department in this regard.

Rao also instructed Finance Minister Etela Rajender Principal Secretary-Finance Ramakrishna Rao and other officials to pay a visit to Madhya Pradesh where the budget is already being presented in the new format.

--IANS
ms/ksk/vt