From 2018 the country's fiscal year may start from January rather than April. This could change the tradition of the financial year of April-March, which lasted 150 years. If this happens then the next budget of the central government can be presented in November this year. Earlier, the old tradition of presenting the government budget in February has changed. India has a financial year from April 1 to March 31. This system was started in 1867 and it was arranged in accordance with the financial year of the British Government for the fiscal year. Before that, the financial year in India started on 1st May and till 30th April. After expressing his wish to match PM Modi's calendar for the calendar year, the government formed a high-level committee last year. The committee was asked to study the behavior of starting the financial year from January 1. The committee handed over its report to the Finance Minister in December.
South Korea raised its export outlook this year after economic growth accelerated at a sharper pace. The strong start to the year on strong exports and capital investment is a relief for policymakers after months of political crisis and as the country prepares to elect a new president in May amid rising tensions with neighbors North Korea and China. Finance Minister Yoo Il-ho told reporters, although the final decision may be up to the nation's next leader.Gross domestic product grew a seasonally adjusted 0.9 percent in the first quarter.From a year earlier, GDP rose 2.7 percent in the first quarter now facility investment led overall growth with a 4.3 percent gain in quarter.In meanwhileChinese tourist numbers fell due to China's restrictions on travel to South Korea.