New Delhi: The central government on Monday issued a clarification that it has not extended the current fiscal year till June in view of the coronavirus lockdown, as misquoted by some media organisations. Also Read - 'No Mask No Movement': Rajasthan Launches New Campaign to Break Chain of Coronavirus in State
The next financial year (2020-21) is set to begin as per routine schedule on April 1 as opposed to July 1 that is being rumoured. The Centre’s clarification came in response to a Gazette notification pertaining to change of dates for stamp collection duties that was doing circles on social media platforms. Also Read - Coronavirus in India Live Updates April 21, 2021: Free Vaccines in Assam For All Above 18; Delhi Hospitals Run Short of Beds
“There is fake news circulating in some sections of media that the financial year has been extended. A notification issued by the Government of India on 30th March 2020 with respect to some other amendments done in the Indian Stamp Act is being misquoted,” the Ministry of Finance noted. Also Read - Will Maharashtra go Under Complete Lockdown? Uddhav Thackeray to Make Announcement Today | Live Updates
Since a shutdown was imposed by the government, social media has been abuzz with rumours that the current fiscal year may be extended given the economic situation. Reports also claimed that certain sectors of the industry requested the Centre to begin FY21 from July 1.
Notably, the ghastly infection has severely affected economies around the world and in India in what is being deemed as a recession worse than that of 2009. This comes at a time when India was already facing one of its worst economic slowdown that has completely crippled the manufacturing sector.