With only a few hours left for the new year, 2025 brings several major changes. From January 1, 2025, several economic regulations will change, directly affecting the common man’s pocket.
LPG Cylinder Prices:
Due to crude oil prices at $73.58 per barrel in the international market, LPG cylinder prices may increase in January 2025. Currently, domestic cylinder prices are stable at ₹803 in Mumbai and Delhi.
Fixed Deposit Rules:
From January 1, 2025, major changes will be implemented in FD rules for NBFCs and HFCs.
GST Rules:
From January 1, 2025, GST portal users must follow Multi-Factor Authentication (MFA).
UPI 123 Pay Transaction Limit:
The UPI 123 Pay transaction limit will be increased from ₹5,000 to ₹10,000 starting January 1, 2025.
ATM Facility for EPFO Members:
The government plans to introduce ATM facilities for withdrawing PF from January 1, 2025.
Relief for Farmers:
Farmers’ loan limit will increase to ₹2 lakh starting January 1, 2025.
Car Prices to Increase:
Car prices are set to rise by 2-4% due to higher production costs, starting January 1, 2025.