31 March - The Indian Financial Year ends In India

 

The financial year in India typically runs from 01April to 31 March of the following year. This period is used for accounting purposes by businesses, government entities, and individuals for tax and financial reporting.

The Indian financial year is divided into twelve months, with each month spanning from the 1st to the last day of the month. The end of the financial year, March 31st, marks the deadline for various financial activities, including filing income tax returns, completing audits, and finalizing financial statements.

The Indian government presents its annual budget in February, outlining its expenditure and revenue projections for the upcoming financial year, which starts from April 1st. This budget serves as a blueprint for government spending and taxation policies for the year ahead.

Overall, the Indian financial year plays a crucial role in the country's economic planning, budgeting, and financial management. It provides a structured framework for financial transactions and reporting, ensuring transparency and accountability in both public and private sectors.

31 March - National Crayon Day

 

National Crayon Day is celebrated annually on March 31st. While the exact origins of this holiday are unclear, it is believed to have been established to honor the invention and cultural significance of crayons.

The history of crayons dates back centuries, with early forms of colored drawing implements made from materials like charcoal and oil. However, the modern crayon as we know it was developed in the late 19th and early 20th centuries.

One significant event in crayon history is the founding of the Crayola company. In 1903, cousins Edwin Binney and C. Harold Smith founded Binney & Smith in Easton, Pennsylvania, which later became known as Crayola LLC. The company initially produced industrial pigments before shifting its focus to art products for children. In 1903, they released their first box of crayons, containing eight colors.

Over the years, Crayola has continued to innovate and expand its product line, introducing new colors, specialty crayons, and other art supplies. The brand has become synonymous with crayons and is widely recognized for its iconic yellow and green packaging.

National Crayon Day serves as an opportunity to celebrate the joy of creativity and the role that crayons play in artistic expression, childhood development, and education. It's a day for people of all ages to embrace their inner artist, whether through coloring, drawing, or other artistic endeavors. Additionally, it's a chance to reflect on the history and cultural significance of this beloved art supply.

31 March - King Nangklao Memorial Day (Thailand)

 

King Nangklao Memorial Day, also known as King Rama III Memorial Day, is observed in Thailand on March 31st each year. It commemorates the reign and contributions of King Nangklao, who was also known as King Rama III. King Nangklao ruled Siam (modern-day Thailand) from 1824 until his death in 1851.

During his reign, King Nangklao implemented various reforms and modernizations in Siam, including improvements to infrastructure, administration, and trade. He also played a significant role in preserving the independence of Siam amidst colonial pressures from European powers. King Nangklao is remembered for his efforts to strengthen the kingdom and for his contributions to Thai culture and heritage.

On King Nangklao Memorial Day, Thai people may participate in ceremonies, pay respects at royal monuments or temples, and reflect on the legacy of King Nangklao and his impact on the nation's history.

 

31 March - Daylight Savings Time goes into effect in the USA for the first time in 1918

 

Daylight Saving Time (DST) was first implemented in the United States on March 31, 1918. This was during World War I, and the purpose was to conserve fuel by reducing the need for artificial lighting during the evening hours. However, it was not universally adopted across the country at that time and was met with mixed reactions. After the war, Daylight Saving Time was repealed, but it was reinstated during World War II and has been observed at various times since then. The start and end dates of Daylight Saving Time have changed several times over the years due to legislation and adjustments in policy.

31 March - The Royal Australian Air Force was established.

 

The Royal Australian Air Force (RAAF) was indeed established on March 31, 1921. Initially, it was known as the Australian Air Force (AAF) until it received the royal prefix in August 1921, becoming the Royal Australian Air Force. The RAAF is the aerial warfare branch of the Australian Defence Force and has played significant roles in various military operations and conflicts throughout its history, including World War II and subsequent international deployments.