The country’s general budget is going to be presented on February 1. Finance Minister Nirmala Sitharaman will present this budget in Parliament. Along with the budget, many important changes are also going to happen which will have a direct impact on the pocket and expenses of the common man.
There will be changes especially in the rules related to LPG, banking, UPI, car prices and air travel. Let us know which new rules will be implemented from February 1 and how they will affect you.
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.
➤ In January, the price of 19 kg commercial cylinder was reduced.
➤ Now it remains to be seen whether the price of domestic cylinder will decrease or increase on February 1.
➤ If the price increases, the burden on your pocket will increase and if it decreases, you will get relief.
2. New rules related to UPI transactions
National Payments Corporation of India (NPCI) has decided to implement new rules related to UPI transactions.
➤ From February 1, 2025, transaction IDs containing special characters will not be accepted.
➤ Now only alpha-numeric (letters and numbers) transaction IDs will be valid.
➤ The transaction will fail if the wrong ID is entered.
➤ This change has been made 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.
➤ If you are thinking of buying a new car, then you may have to spend more money.
4. There will be changes in banking rules
Kotak Mahindra Bank has announced changes to some of its services and charges which will be effective from February 1, 2025.
➤ The free limit of ATM transactions can be reduced.
➤ The charges for banking services may increase.
➤ Bank customers will have to avail services as per the new fee structure.
➤ If you are a Kotak Bank customer, you may have to pay additional charges.
5. Air travel may become expensive – change in ATF prices
Air Turbine Fuel (ATF) prices are revised on the first of every month.
➤ Air travel can become expensive if the price of ATF or aviation fuel increases.
➤ If oil companies increase prices, then the price of flight tickets can also increase.
➤ This will affect the passengers traveling by air in the country and abroad.
Impact of new changes on common man
➤ LPG prices increased – So gas cylinder will be expensive which may increase kitchen expenses.
➤ New rule in UPI transaction – Those making digital payments will have to ensure that their transaction ID is correct.
➤ Maruti cars expensive – If you are planning to buy a new car, then you will have to spend more money.
➤ Hike in banking charges – Kotak Mahindra Bank customers may have to pay more charges.
➤ ATF price increased – So flight tickets will be expensive which may increase the travel budget.
At the same time, these changes which will come into effect from February 1, 2025 will have a direct impact on the pocket of the common man. Some things may become expensive while the rules of some services may change. In such a situation, if you are associated with gas cylinder, car, banking services or air travel, then you must be aware of these changes. Now it remains to be seen whether the general public will get relief in the budget or inflation will increase!
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