Several policy changes will come into effect across India from May 1, likely impacting everyday expenses—from kitchen budgets to banking costs.
LPG price revision
LPG cylinder prices will be revised at the start of the month, as usual. After a hike in April, consumers are hoping for some relief. Oil companies may also introduce updates in the delivery system, such as a fixed lock-in period and OTP-based delivery.
Fuel price changes
Rates of air turbine fuel (ATF), along with CNG and PNG, are also expected to be revised. Any change in these fuel prices could influence travel costs as well as household gas expenses.
Credit card rule changes
There is an important update for State Bank of India (SBI) credit card users. From May 1, late payment charges have been revised. Customers will be charged ₹100 for outstanding dues between ₹100 and ₹500, and ₹500 for dues between ₹500 and ₹1,000.
In addition, for BPCL SBI credit cards, the annual spending required to waive the ₹499 fee has been increased from ₹50,000 to ₹1 lakh.
These changes are expected to have a direct impact on household spending and financial planning for many consumers.