New Rules from Feb 2025: The month of February has started, and along with this, the echo of the budget is also heard everywhere. On February 1, Finance Minister Nirmala Sitharaman will present the country’s general budget, which may include several important announcements from middle class to farmers and industries. There may also be announcements in tax slabs ranging from relief to infrastructure and large investment plans in digital payments.
But not only the budget, this month, many big changes that affect your pockets and expenses are going to happen. From the reshuffle in the prices of LPG gas cylinder to the new rules of UPI Payments, there are some changes that are difficult to ignore. So let’s know what big changes are going to knock in your life in February…
1. Commercial cylinders cheaper, domestic cylinder prices stable
The general public has got a big relief before the budget. Today, it has been cut by Rs 7 in February 1. These new prices will apply to a 19 kg commercial cylinders. However, there has been no change in the prices of domestic gas cylinders.
Last month, the country’s largest oil company Indian Oil Corporation (IOC) cut the price of commercial cylinder by Rs 14.5 later by 6 months. This cut in metro cities reached Rs 16.
This is the second consecutive month since the beginning of New Year 2025 when the prices of 19 kg cylinder are seen to fall.
2. Big change in rules related to UPI transaction
There is an important news for UPI payments. The National Payments Corporation of India (NPCI) has decided to change the rules related to UPI transactions. The new rules will be applicable from 1 February 2025.
Under this change, if there is any other special character in the transaction ID other than alphanumeric character (letters and marks), the payment will fail. NPCI said that from February 1, only alphanumeric transaction ID will be valid.
If the ID would have special characters (eg @, #, $), then such transactions will be blocked. NPCI has also issued a circular in this regard so that people can understand these rules in time and prepare.
3. Change in banking rules: Kotak Mahindra Bank gave new information
Kotak Mahindra Bank has informed its customers about the new rules to be implemented from February 1, 2025. These include changes in the limit of free ATM transactions and new fees on many banking services. The bank said that these changes are being made keeping in mind the facilities of the customers.
4. Maruti Suzuki’s cars will be expensive
Maruti Suzuki India (MSIL), the country’s largest car company, has decided to increase the prices of different models of its vehicles. The company said that due to rising input costs and operational expenses, the prices of trains will be increased by Rs 32,500 from 1 February 2025.
Cars whose prices will rise include Alto K10, S-Presso, Celerio, Wagon R, Swift, Desire, Brezza, Ertiga, Eco, Ignis, Baleno, Ciaz, XL6, Fronx, Invito, Jimney and Grand Vitara.
This increase may shock Maruti’s customers as the prices of the company’s popular models will be directly affected.
5. Big announcements can be made in the budget today
The Union Budget will be presented on 1 February 2025. Finance Minister Nirmala Sitharaman can make many important financial announcements in this budget. These announcements can affect your tax exemption, savings schemes and government schemes.