These rules will change from January 1, 2025! Know 5 big changes from LPG to Pension


The new year 2025 has arrived and with it many new rules and changes are also being implemented. These changes will affect the everyday life of the general public. From LPG cylinder prices to pension withdrawal, new rules are being implemented in many important areas. These changes will have a direct impact on the pockets of middle class people.

Let us know about 5 major changes coming into effect from January 1, 2025 which will affect your daily life and financial matters. It is important to be aware of these changes so that you can manage your expenses and plans in a better way in the new year.

Major changes to be implemented from January 1, 2025

Here is a brief overview of the key changes coming into effect in the new year:

shift Description
LPG cylinder prices Revision in domestic and commercial LPG cylinder prices
pension withdrawal EPFO pensioners will be able to withdraw pension from any bank
UPI 123Pay Limit Transaction limit increased to ₹10,000 for feature phone users
GST rules Multi-Factor Authentication mandatory on GST portal
car prices Car prices to rise by 2-4% due to rising production costs
farmer loan Loan limit for farmers increased to ₹2 lakh

Change in LPG cylinder prices

The prices of domestic and commercial LPG cylinders will be revised from January 1, 2025. While domestic cylinder (14 kg) prices have remained stable for some time now, commercial cylinder (19 kg) prices have seen fluctuations.

See also  Skills of youth will be developed under the scheme

Crude oil prices in the international market are at the level of $73.58 per barrel, due to which there is a possibility of increase in LPG prices. Currently the domestic cylinder price in Mumbai and Delhi is ₹803.

Consumers are advised to be prepared for price changes and plan their budget accordingly.

Improvement in EPFO ​​pension withdrawal

There is a big relief news for EPFO ​​pensioners from January 1, 2025. Under the new rules, pensioners will now be able to withdraw their pension from any bank in the country. For this they will not require any additional verification.

This facility will bring great relief to pensioners. Now they will be able to get pension from any bank nearest to their residence. This will eliminate the need for them to travel long distances or maintain their old bank accounts.

This new rule will benefit about 78 lakh EPFO ​​pensioners. This change will make the pension payment system more accessible and user-friendly.

UPI 123Pay transaction limit increased

There is good news for feature phone users. From January 1, 2025, the transaction limit of UPI 123Pay will be increased to ₹10,000. Currently this limit is ₹5,000.

This change will provide great relief to feature phone users. They will now be able to conduct higher value transactions, making the use of digital payments even easier. This step is an important step towards Digital India.

UPI 123Pay is a service that allows feature phone users to conduct UPI transactions without internet. The increase in this limit will promote digital payments in rural and semi-urban areas.

See also  What will be the amount of pension from EPFO? See Calculation – Variousinfo

New rules on GST portal

Multi-Factor Authentication (MFA) will become mandatory on the GST portal from January 1, 2025. This step has been taken to strengthen the security of the GST portal.

Under MFA, users have to use more than one authentication method to login. This will reduce the risk of unauthorized access and fraud.

Business owners and taxpayers are advised to:

  • Update your mobile number for OTP
  • Train your employees about MFA
  • Prepare your IT systems for MFA

increase in car prices

Car prices are likely to increase by 2-4% from January 1, 2025. This increase is happening due to increase in production costs.

Car manufacturing companies are facing increasing production costs due to rising raw material prices and new safety norms. Because of this they are forced to increase the prices.

People planning to buy a car are advised to plan their budget keeping this price increase in mind. If possible, consider buying a car before the New Year.

Increase in loan limit for farmers

From January 1, 2025, the loan limit for farmers will be increased to ₹ 2 lakh. This is an important step which will boost the agriculture sector.

Under this new rule, farmers will now be able to take loans up to ₹ 2 lakh without any guarantee. This is higher than the earlier limit of ₹1.6 lakh. With this increase, more money will be available to farmers for agricultural activities.

This step will allow farmers to:

  • Will help in purchasing better seeds and fertilizers
  • Ability to purchase modern agricultural equipment will increase
  • There will be an opportunity to improve irrigation facilities
See also  55,450 vacancies for B.Ed holders, apply quickly! – Variousinfo

Other important changes

  1. Amazon Prime Membership: Under the new rules, Prime Video can be streamed only on two TVs from one Prime account. Additional subscription will have to be taken for the third TV.
  2. Fixed Deposit (FD) rules: Important changes will be made in FD rules for NBFCs and HFCs.
  3. ATM facility for EPF members: EPF account holders will now be able to withdraw their funds through ATM. This feature will provide instant access and convenience.
  4. Aviation Fuel Prices: Aviation fuel prices will be revised, which may impact the cost of air travel.
  5. Mobile data charges: Telecom companies like Jio, Airtel and Vodafone may revise their mobile data charges.

conclusion

These changes, which will come into effect from January 1, 2025, will affect various regions of India. From LPG prices to pension withdrawal, these rules will have a direct impact on the daily lives of the general public. It is important to be aware of these changes and make your plans accordingly.

Along with these changes, some challenges may also come in the new year. But these should be seen as opportunities. For example, increasing the UPI limit will boost digital transactions, while increased loan limits for farmers will pave the way for new investments in the agriculture sector.

Disclaimer:

This article is for informational purposes only. Although we have attempted to provide accurate information, rules and policies are subject to last minute changes. Please consult relevant government departments or experts before taking any financial or legal decisions. The author or publisher is not responsible for any loss or damage caused by the use of this information.

Sharing Is Caring:

Hello friends, I am Ashok Nayak, the Author & Founder of this website blog, I have completed my post-graduation (M.sc mathematics) in 2022 from Madhya Pradesh. I enjoy learning and teaching things related to new education and technology. I request you to keep supporting us like this and we will keep providing new information for you. #We Support DIGITAL INDIA.

Leave a Comment