The Gazette of India
EXTRAORDINARY
PART I—Section 1
PUBLISHED BY AUTHORITY
No. 57] NEW DELHI, WEDNESDAY, MAY 9, 1984/VAISAKHA19,1906
Separate paging is given to this Port in order that it may be filed as a separate compilation
2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART I—SEC. IJ 4. Deputy Comptroller and Auditor General of India —Member5. Chairman,, Agricultural Prices Com- mission —Member
6. President, Federation of Indian Chambers of Commerce and Industry —Member 7. President, Associated Chambers of Commerce and Industry —rMember
8. Financial Commissioners [Finance Secretaries
of— (i) Maharashtra —Member (h) Utiar Pam-esh —Member (iii) Tamil Nadu —Member (iv) Bihar —Member
9. Shri G. V. Ramakrishna, I.A.S.
— Member Secretary
2. The terms of reference to the Committee will be
as follows:
The Committee shall examine the various dates for the commencement of the financial year including the existing date taking into account (i) the genesis of the current financial year and the studies made in the past on the desirability of change in the financial year; (ii) the latest views communicated to the Minister of Finance by the Central Cabinet Ministers and the State Chief Ministers; (iii) the suitability of the finan- cial year from the point of view of (a) correct esti- mation of receipts and expenditure of Central and State Governments; (b) the effect of the different agricultural crop periods; (c) the relationship of financial year to the working -season; (d) the con- venience of the legislatures for transacting budget work and touring constituencies; (e) statistics and data collection; (f) taxation systems and procedures and (g) other relevant matters.
The O ji jniitce afei due examination of all ralavant factors may recommend the date of commencement of the financial year which in its view is the most suitable for this country.
MINISTRY OF FINANCE
(Department of Economic Affairs)
RESOLUTION
New Delhi, the 1st May, 1984
In case a change in the financial year is recommen- ded, the Committee will also work out the modalities for effecting the change. This will inter-alia include (i) the determination of a transitional period; (ii) the change in tax laws during the transitional period; (iii) the amendments that may be required in various statutes; (iv) changes in the periods of Plan and the coverage of the recommendations of the Finance Com- mission; and (v) in the accounting procedures.
3. The Committee is requested to submit its report
before the end of October, 1984.
New Delhi, the 8th May. 1984 No. F. 1(27)B(AC) |84.—The Government of India is pleased to constitute a Committee to go into the question of change in the financial year under the Chairmanship of Shri L. K. Jha, Chairman, Economic, Reforms Administration Commission. The members of the Committe are :—
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