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PM Wants Concurrent State-Lok Sabha Polls and Jan-Dec Fiscal Year

Prime Minister Narendra Modi on Sunday pitched for conducting simultaneous elections to the Lok Sabha and the state assemblies and shifting to a January- December fiscal year.

Addressing the Niti Aayog Governing Council’s third meeting, which was attended by several state chief ministers, Modi said that for too long, India had suffered from economic and political mismanagement.

e added there is a need to develop robust arrangements that could function amidst diversity.

The Prime Minister called for carrying forward the debate and discussions on holding simultaneous elections to Parliament and state legislatures.

On the Goods and Services Tax (GST), Modi asked the states to make legislative arrangements “without delay” for the rollout of the indirect tax regime from 1 July. The GST will subsume central excise, service tax, Value Added Tax (VAT) and other local levies

The Prime Minister asked the states to take the initiative in this regard. Currently, India follows April-March as the fiscal year.

Later, briefing reporters about the meeting, Niti Aayog vice chairman Arvind Panagariya said the Prime Minister wants that “we think of January-December financial year as this is appropriate from the point of view of farmers”.

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