Fiscal year will start on 1 April from 2028: Cabinet Division

The Cabinet Division on Monday approved the proposal to start the fiscal year from 1 April and end it on 30 March next year effective from 2028.

The next fiscal year 2027-28 will serve as the transitional year, ending in nine months starting 1 July 2027, it was decided at a cabinet meeting, chaired by Prime Minister Tarique Rahman, read a press release.

Justifying the shift in fiscal year cycle, the Cabinet Division said July-August is generally the period of monsoon rain in Bangladesh.

The rains cause delays in infrastructural development activities, impact the quality of works, and cause huge public sufferings.

If the fiscal year starts in April, the works can be complete before the rain starts, the press release added.