Rule Changes from 1st February: The second month of 2025, February, has started today. Today is an important day for financial matters, as several changes will impact the common person’s pocket. The biggest event today is the presentation of the budget. Finance Minister Nirmala Sitharaman will present the general budget for the financial year 2025-26 in Parliament. Many announcements related to people’s finances are expected in this budget.

The Country’s General Budget Will Be Presented Today

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The general budget for the financial year 2025-26 will be presented in Parliament today. Many important announcements are expected, which may directly impact people’s finances. It is expected that the Finance Minister may increase the basic income tax exemption limit from ₹3 lakh to ₹10 lakh, providing significant relief to taxpayers. Additionally, a new 25% tax slab may be introduced for incomes between ₹15 lakh and ₹20 lakh.

LPG Cylinder Prices Reduced

From February 1, the price of a 19 kg commercial LPG cylinder has been reduced by ₹7. Now, in Delhi, the price of this cylinder is ₹1,797 instead of ₹1,804. However, there has been no change in the price of domestic LPG cylinders.

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New UPI Rules Implemented

A major change for UPI users has started today. The National Payments Corporation of India (NPCI) has decided to block certain UPI transactions. According to the new rule, UPI transaction IDs that contain special characters will no longer be accepted from February 1. Only transaction IDs made using letters and numbers (alphanumeric characters) will be valid.

Kotak Mahindra Bank’s New Rules

Kotak Mahindra Bank has introduced changes in its services and charges from February 1, 2025. These changes affect banking services like free ATM transactions, demand drafts, RTGS, IMPS, and chequebooks.