Bangladesh is set to make a major change to its fiscal year system. From the 2028-29 fiscal year, the government plans to move away from the current July-June cycle and introduce an April-March fiscal year.
The decision was taken at a cabinet meeting chaired by Prime Minister Tarique Rahman. A press release issued by the Prime Minister’s Office and the Cabinet Division confirmed the change after the meeting.
Bangladesh Fiscal Year Will Follow April-March Cycle
At present, Bangladesh’s fiscal year runs from July 1 to June 30. Under the new plan, the fiscal year will begin on April 1 and end on March 31.
The government says the change is linked to difficulties faced during the monsoon season. July and August usually bring heavy rain, which can make infrastructure development and construction work more difficult across the country.
Rainy weather can delay projects and also affect the quality of construction work. At the same time, people may face additional problems when roads and other infrastructure projects continue during the rainy season.
The new fiscal year is expected to give the government more time to complete development and construction projects before the main rainy season begins.
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A Transition Period Has Been Planned
The government will not introduce the new system suddenly. A transition period has been included in the plan to make the change easier to manage.
The 2027-28 fiscal year will be treated as a transitional year. Instead of continuing for the usual 12 months, it will cover only nine months, from July to March.
This shorter fiscal year will help the government move from the existing July-June system to the new April-March cycle.
Full Change From 2028-29 | Bangladesh Fiscal Year
The new system will be fully introduced from the 2028-29 fiscal year.
From that year, government budgets and other official activities will follow the April-March cycle. The fiscal year will officially start on April 1 and end on March 31.
The planned change is being presented as a way to better match the government’s development activities with the country’s seasonal conditions.
If implemented as planned, the move will mark a significant change in how Bangladesh manages its annual government budget and financial activities.
