New Changes From January: Â With the beginning of the new year on January 1, 2025, many financial changes have happened and by knowing these, you can also take benefits related to your pocket.
New Changes From January: The year 2025 has started and on January 1, people are immersed in the celebration of the new year. Along with the celebration, it is important for you to know about the financial changes that are happening on January 1, 2025. For your information, let us tell you that along with the new year on January 1, 2025, many financial changes have happened. The major changes to be made in the country from January 1, 2025 are as follows-
Price of 19 kg LPG cylinder reduced
From January 1, 2025, a 19 kg LPG cylinder in Delhi will now cost Rs 1804, which was earlier at Rs 1818.50. In Mumbai, the price of 19 kg cylinder has come down to Rs 1756, which was earlier at Rs 1771. The rate of commercial LPG cylinder in Kolkata has come down to Rs 1911, which was earlier Rs 1927. In Chennai, Rs 1966 will have to be paid for commercial LPG, for which earlier Rs 1980.50 had to be paid.
RBI’s new rules for premature FD withdrawal
The Reserve Bank of India has changed the fixed deposit rules for non-banking financial companies and housing finance firms. Depositors can withdraw the entire amount of small deposits (up to Rs 10,000) without any interest within three months of depositing it. FD holders can withdraw the entire amount in case of suffering from a serious illness.
Facility will be available on spending through credit card in airport lounge
If you spend more than the prescribed limit through RuPay credit card, you will also get special facilities in the airport lounge. National Payment Corporation of India is going to make arrangements for this from 2025. Similarly, UPI payment interface will now also support third party apps i.e. agencies other than banks.
Increase in UPI 123Pay transaction limit
National Payments Corporation of India (NPCI) has increased the limit of UPI 123Pay from Rs 5000 to Rs 10,000.
UPI Payments – UPI transactions can be done through Prepaid Payment Instrument (PPI) third party mobile application.
ATF becomes cheaper for airlines
After a reduction of Rs 1401.37 per kilolitre, the price of aviation turbine fuel in the capital Delhi has now become Rs 90455.47 per kilolitre, which was Rs 81,856.84 per kilolitre last month. The new price of ATF in Mumbai has come down to Rs 84,511, which was earlier Rs 85,861, while in Kolkata ATF will be available at Rs 93,059.79 per kilolitre, which was earlier Rs 94,551 per kilolitre. The new price of ATF in Chennai has become Rs 93,670, which was earlier Rs 95,231 per kilolitre.
Ration card rules change
In the new year, ration cards without e-KYC will be canceled and only ration card holders with e-KYC will be able to avail the benefits of government food scheme.
Change in income tax rules
Most of the income tax changes announced in Budget 2024 will be effective from the current financial year 2024-25. Tax deductions, deductions and exemptions will also be affected while filing income tax returns in July 2025.
Hike in car prices
Major automobile manufacturers like Maruti Suzuki, Hyundai, Mahindra and MG have announced that they will increase the prices of their vehicles by 2-4% and these have come into effect from today, January 1, 2025.
RBI’s Farmer Loan Reforms
Farmers will be eligible for unsecured loans up to Rs 2 lakh without any guarantee, as directed by RBI, to provide loans to farmers and improve agricultural productivity and financial stability.
Visa rules changes in 2025
- Thailand
Thailand will implement an advanced e-visa system that will allow travellers from across India to apply online through www.thaievisa.go.th. - USA
The United States has announced several changes to its visa policy, including categories such as the H-1B visa, effective in 2025. Indians will have to fill a new version of Form I-129 from January 17, 2025. - UK
Indians planning to apply for a UK visa will have to show at least 11 per cent more financial reserves than the current requirement.
EPFO
EPFO members may soon be able to withdraw money directly from ATMs for EPF account holders.
Timings of trains changed
Indian Railways will release a new schedule on January 1, 2025 and the timings of some trains will change.
