The country's general budget is going to be presented on 1st February. Finance Minister Nirmala Sitharaman will present this budget in the Parliament.
With the budget, many important changes are also going to happen that will have a direct impact on the expenses of the common man. These changes will impact the households across the country.
These new rules include changes in the prices of LPG cylinders used in the kitchen to the rules of UPI payment. There will be changes especially in the rules related to LPG, banking, UPI, car prices and air travel.
Here’s a list of new rules that will be implemented from February 1:
1. Change in LPG gas cylinder prices:
LPG gas cylinder prices are revised on the first of every month. Oil companies release new prices that apply to both domestic and commercial cylinders. The price of 19 kg commercial cylinder was reduced in January. Now it remains to be seen whether the prices of domestic cylinders decrease or increase on February 1.
2. New rules related to UPI transactions
National Payments Corporation of India (NPCI) has decided to implement new rules related to UPI transactions. Transaction IDs containing special characters will not be accepted from February 1, 2025. Now only alpha-numeric (letters and numbers) transaction IDs will be valid. If wrong ID is entered the transaction will fail. This change has been made in order to make UPI payments secure and systematic.
3. Maruti Suzuki cars will become expensive
The country's largest car manufacturer Maruti Suzuki has announced an increase in the prices of some of its models. Car prices will increase by up to Rs 32, 500 from February 1, 2025. Models whose prices will increase include Alto K10, S-Presso, Celerio, Wagon R, Swift, Dzire, Brezza, Ertiga, Ignis, Baleno, Ciaz, XL6, Francox, Invicto, Jimny and Grand Vitara.
4. Changes in banking rules
Kotak Mahindra Bank has announced changes to some of its services which will be effective from February 1, 2025. Free limit of ATM transactions may be reduced. Charges for banking services may increase. Bank customers will have to avail services as per the new fee structure.
5. Air travel may become expensive
Air Turbine Fuel (ATF) prices are revised on the first of every month. Air travel may become expensive if the prices of ATF increase. If oil companies increase prices, then flight ticket prices may also increase. This will affect air travellers within the country and abroad.