India planning to change financial year to Jan-Dec, says finance minister Jaitley

Finance Minister Arun Jaitley on Friday told lawmakers that the government is considering to change the country's financial year to January-December from April-March.

"The matter of changing financial year is under consideration," Jaitley told lawmakers in a written reply to the lower house of parliament.

He declined to elaborate whether the budget presentation would be advanced to November or December from February 2018.