The Central Government has appointed a committee with Former CEA Shankaracharya as Chairman to look in to changing the financial year from April to March and submit recommendations. The financial year for countries are different, some starting with January, some April, Some July and some October. India follows the British system of starting from April and the US financial year starts from October.
Is the proposal to change the financial year, a political one? Is it intended to change from April to October in order have more compatibility with US with whom India is strategically coming closer and closer?