With the start of the new financial year on April 1, 2025, many important changes have come into effect. These changes will directly impact your daily life, covering everything from LPG prices to tax rules and banking policies. Here are the 15 biggest changes you need to know about:
1. Cheaper LPG Cylinders
- Prices of commercial LPG cylinders have been reduced in cities like Delhi, Mumbai, Chennai, and Kolkata.
- In Delhi, the price has dropped by ₹41, making the new price ₹1,762.
- In Kolkata, prices are reduced by ₹44.50 to ₹1,868.50.
- However, domestic LPG cylinder prices remain unchanged.
2. Income Up to ₹12 Lakh Now Tax-Free
- From this financial year, income up to ₹12 lakh is now tax-free.
- An additional ₹75,000 standard deduction is also available.
- This new tax relief was announced in the Union Budget 2025-26.
3. Unified Pension Scheme (UPS) Introduced
- The Unified Pension Scheme (UPS) has replaced the Old Pension Scheme starting today.
- This change affects around 23 lakh central government employees.
4. Credit Card Rules Changed
- SBI, Axis Bank, and IDFC have changed their credit card policies.
- Changes include adjustments in reward points, fees, cashback, and offers.
5. Cheaper Air Travel
- Prices of jet fuel have been reduced, making air travel cheaper.
- In Delhi, jet fuel prices are now below ₹90,000 per kiloliter, while in Mumbai, prices are below ₹84,000 per kiloliter.
6. Higher Minimum Bank Balance
- Government banks like SBI, Canara Bank, and PNB have increased the minimum balance requirement.
- The minimum balance varies for urban, semi-urban, and rural areas.
- Penalties will be imposed if the balance falls below the required amount.
7. Cars Become Expensive
- Maruti Suzuki, Tata Motors, BMW, Mahindra, and Kia have increased car prices.
- The new prices are effective from April 1, 2025.
8. Changes in UPI Rules
- The National Payments Corporation of India (NPCI) has introduced new security measures for UPI transactions.
- Mobile numbers linked to inactive UPI accounts will gradually be removed.
9. Higher Toll Charges
- National Highways Authority of India (NHAI) has increased toll tax across different highways.
- The new toll rates are now applicable nationwide.
10. Physical Stamp Papers Discontinued in Uttar Pradesh
- Physical stamp papers worth ₹10,000 to ₹25,000 have been discontinued.
- This step is taken to promote digital transactions through e-stamping.
11. GST Rules Updated
- New rules include multi-factor authentication for GST portal users.
- E-way bills cannot be generated using documents older than 180 days.
12. Changes in DigiLocker
- Investors can now store Demat account statements and consolidated account statements in DigiLocker.
- This step aims to make document management easier and safer.
13. New Home Loan Rules
- The Reserve Bank of India (RBI) has introduced new rules for home loans.
- These new guidelines replace the 2020 home loan rules.
14. Mutual Fund Rules Changed
- The Securities and Exchange Board of India (SEBI) has introduced a rule for New Fund Offers (NFOs).
- Funds raised through NFOs must be invested within 30 days.
15. FASTag Now Compulsory in Maharashtra
- FASTag has been made mandatory for all vehicles in Mumbai.
- Vehicles without a FASTag will need to pay double the toll fee in cash.
- This move is part of the government’s push for digital payments.
These 15 changes are expected to impact your finances and daily transactions. Stay informed and adjust your financial plans accordingly!
