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Economy & finance

Financial year

The twelve months a government or company uses for its accounts. In India it runs from 1 April to 31 March, so “2026–27” means April 2026 to March 2027.

Related termsUnion Budget

“Financial year” in our stories

EconomyIndia

How the Union Budget works

What the Constitution calls the “annual financial statement”, how Parliament approves the spending, and the words — fiscal deficit, guillotine, vote on account — that come with it.

·Rational Times Explainers·2 min read