The new fiscal year 2025-26 commenced today, bringing with it several changes impacting citizens and businesses alike. These changes range from new schemes for senior citizens and women to revisions in UPI regulations.
Business Desk: The new fiscal year 2025 began on April 1, 2025, resulting in changes across various sectors. New regulations and amendments have been implemented for senior citizens and women. Additionally, modifications to UPI rules may introduce new digital payment processes.
While petrol, diesel, and LPG prices are typically revised on the first of each month, petrol prices remained unchanged this time. The impact of these changes on daily life and various sectors is expected to be felt throughout the new fiscal year.
What Became Cheaper?
1. LPG Cylinder Prices Reduced
Commercial LPG cylinder prices decreased from April 1st. In Delhi, a 19 kg cylinder is now priced at ₹1,762, a reduction of ₹41. In Kolkata, the price dropped by ₹44.50 to ₹1,868.50. Mumbai saw a ₹42 reduction, bringing the price to ₹1,755.50, while Chennai's price is now ₹1,921.50. However, domestic LPG cylinder prices remain unchanged.
2. Air Travel Became Cheaper
Aviation Turbine Fuel (ATF) prices also decreased. In Delhi, the price per kiloliter fell from ₹95,311.72 to ₹89,441. Kolkata's price is ₹91,921, Mumbai's is ₹83,575.42, and Chennai's is ₹92,503.80.
What Became More Expensive?
1. Four-Wheeler Prices Increased
Tata Motors, Kia India, Hyundai India, and Honda Cars increased their car prices from April 1st. Maruti Suzuki cars have become up to 4% more expensive, while Kia, Hyundai, and Mahindra & Mahindra increased prices by up to 3%. Renault India also increased prices by up to 2%.
Changes in Regulations
* UPI Rules
Inactive UPI-linked mobile numbers will now be removed. If your mobile number is linked to UPI and hasn't been active for a considerable period, it may be removed.
* Banking Changes
Several banks, including SBI, Canara, and PNB, have revised their minimum balance rules. Account holders must now be more vigilant about maintaining minimum balances.
* Relief for Senior Citizens
The government has increased tax exemptions for senior citizens. Income from post office schemes now enjoys an exemption up to ₹100,000, increased from the previous ₹50,000.
* Closure of the Mahila Samman Savings Certificate Scheme
The Mahila Samman Savings Certificate scheme (MSSC) was discontinued from April 1st. This scheme offered a 7.5% annual return for women.
* New Pension Scheme
The Unified Pension Scheme (UPS) has been implemented for central government employees, balancing the old and new pension schemes. This scheme guarantees a monthly pension of ₹10,000.
