The government has decided to change the fiscal year cycle from July 1-June 30 to April 1-March 31, with the new timeframe taking effect from FY 2028-29, following approval by the cabinet.

To implement the new timeline, the 2027-28 fiscal year will serve as a transitional year, concluding in nine months (July-March).

The decision was taken today at the 17th cabinet meeting chaired by Prime Minister Tarique Rahman, according to the Cabinet Division.

Explaining the rationale behind the move, the Cabinet Division in a press release said, "Infrastructure development activities continue during July-August, which is the monsoon season. As a result, the rains cause delays, compromise the quality of work, and create widespread public suffering.”

“If the April-March period is used as the fiscal year, infrastructure development activities can be completed before the monsoon," it added.

In addition, the draft of the "Special Response Battalion (SRB) Act, 2026" received final approval at the meeting.

The cabinet also approved the draft of the "National Strategy and Multi-Year Action Plan for a Lead-Free Bangladesh (2026-2035)".

It also approved a proposal to grant customs duty and tax exemptions on the import of green chillies and tomatoes.