As the new year is approaching, many important changes are going to be implemented in India from January 1, 2025. These changes will not only affect individual lives but will also bring significant changes in the economic and financial sector. In this article we will learn about the major changes that will be implemented in the coming year, such as LPG prices, EPFO pension, GST rules, and UPI transactions.
These changes are aimed at simplifying the lives of citizens and enhancing financial security. In this article we will discuss in detail how these changes will affect the common people and how they should be prepared.
Key changes: Rules to come into effect from January 1, 2025
The table below gives a brief overview of the key changes that will come into effect from January 1, 2025:
| Change | Description |
| LPG prices | There will be revision in the prices of domestic and commercial LPG cylinders. |
| epfo pension | Pensioners will now be able to withdraw their pension from any bank without additional verification. |
| GST rules | Multi-factor authentication (MFA) will be mandatory for all taxpayers. |
| UPI 123Pay | The transaction limit for UPI 123Pay will increase to ₹10,000. |
| visa rules | There will be changes to the appointment rescheduling process for non-immigrant visa applicants. |
| stock market rules | Changes will be made in the closing rules of the stock market. |
Change in LPG prices
The prices of LPG cylinders in India will be revised on January 1, 2025. Domestic LPG cylinder (14.2 kg) prices have remained stable recently, while commercial LPG (19 kg) prices have seen fluctuations. It is likely that these prices may increase with the beginning of the new year.
- Domestic LPG Cylinder: Currently the price of domestic LPG cylinder in Delhi is ₹803.
- Commercial LPG Cylinder: The prices of commercial cylinders have increased in the last few months.
This change will have a direct impact on the general public, especially those families who use LPG.
Changes in EPFO pension rules
An important change is being made for the pensioners of EPFO (Employees’ Provident Fund Organisation). From January 1, 2025, pensioners will be able to withdraw their pension amount from any bank, and it will not require additional verification. This facility will prove to be very helpful for the pensioners as it will make it easier for them to get their pension amount.
Benefits of EPFO pension
- Convenience: Withdraw pension from any bank without any additional process.
- Accessibility: Option to receive pension by visiting different banks.
- Time Saving: Time will be saved by eliminating the need for additional verification.
Changes in GST rules
There will also be important changes in GST (Goods and Services Tax) rules from January 1, 2025. Multi-factor authentication (MFA) will be made mandatory for all taxpayers. Its objective is to increase security on the GST portal.
Summary of GST Rules
- MFA Mandatory: All taxpayers must apply for MFA.
- Updating Mobile Number: It will be necessary to update the mobile number to receive OTP.
- E-Way Bill Limitations: E-Way Bills can be generated only for documents older than 180 days.
These changes are being made to make businesses more secure and reduce fraud.
UPI 123Pay transaction limit increase
Another important change for UPI (Unified Payment Interface) users is that the transaction limit for UPI 123Pay will be increased to ₹10,000. Earlier this limit was ₹5,000, but now it is being doubled.
Benefits of UPI 123Pay
- Increased transaction limit: Now users will be able to send more amount at one go.
- Facility: This facility will also be available for feature phone users.
- Security: Security standards will be kept in mind while using the UPI system.
Changes in visa rules
There will also be changes to the appointment rescheduling process for non-immigrant visa applicants starting January 1, 2025. Applicants can now reschedule their appointment once for free. Any additional rescheduling thereafter will require reapplying and paying the fee.
Summary of Visa Rules
- Free Rescheduling: One time free rescheduling facility.
- Additional Fees: Fees will apply on further rescheduling.
change of stock market rules
There will also be a change in the stock market closing rules, which will provide more clarity and security to investors. This change is being made with the aim of protecting the interests of investors and making the market more transparent.
conclusion
All these changes are aimed at simplifying the lives of citizens and enhancing financial security. However, the effect of these changes may vary from person to person. Therefore, it is important that people remain aware of these changes and make their plans accordingly.
Disclaimer:
This information is provided for informational purposes only. All the schemes are genuine and will be implemented by the government. However, it would be advisable to consult the concerned authorities or experts before taking a final decision regarding any plan or change.
