February 1 Rule Change Alert! These are big changes that will directly impact common man's pocket from February 1
Rules Change From February 1: Apart from the Union Budget 2023, several changes have also been announced which will directly affect the common man's pocket. Here's a list of 6 big changes that have come into effect from February 1.
Rules Change From February 1: Finance Minister Nirmala Sitharaman presented the Union Budget for the financial year 2023-24 (FY24) in Parliament today, February 1. Many announcements have been made in this Union Budget including infrastructure, taxation, agriculture and others, that will directly impact the citizens of the country.
However, apart from the Union Budget 2023, several changes have also been announced which will directly affect the common man's pocket. This includes CNG price, ATF price, bank interest rate etc.
Here's a list of 6 big changes that have come into effect from February 1:
CNG price cut in Mumbai
CNG prices revised in Mumbai and surrounding areas. An official of Mahanagar Gas Limited (MGL) said that the price of Compressed Natural Gas (CNG) has been cut by Rs 2.5 per kg for Mumbai and surrounding areas. Accordingly, the revised prices of CNG used in vehicles in Mumbai will now decrease from Rs 89.50 per kg to Rs 87 per kg.
(Pic: Reuters)
PNB hikes MCLR
Punjab National Bank (PNB) has increased the Marginal Cost of Funds Based Lending Rate (MCLR) by 10 basis points i.e. 0.10 per cent. The increased rates are applicable from February 1, 2023, and will directly affect his/her loan, which will increase the EMI.
(Pic: Reuters)
Tata Motors hikes prices
The country’s leading automobile manufacturer Tata Motors has announced to increase in the prices of passenger vehicles effective from February 1. According to the company, on an average basis, the price of passenger vehicles with petrol and diesel engines will increase by 1.2 per cent depending on the model and variant.
(Pic: Reuters)
ATF price hikes
Indian Oil Corporation (IOC) has increased the prices of Aviation Turbine Fuel (ATF). The prices have increased by Rs 4 and have come into effect from February 1. In Delhi, the price of jet fuel has been increased to Rs 1,12,356.77 lakh per kilo litre. While prices have gone up to Rs 1,19,239.96 lakh per kiloliter in Kolkata, Rs 1,11,246.61 lakh per kiloliter in Mumbai and Rs 1,16,922.56 lakh per kiloliter in Chennai.
(Pic: Reuters)
Rent payment via credit card costlier
From February 1, paying rent through a credit card is going to be costly. The Bank of Baroda (BoB) has announced that it will charge 1 percent fee on Rent Payments through credit cards. Apart from that, cardholders will also not get any reward points on the payment of rent.
(Pic: Reuters)
Vehicle scrapping policy in Noida
Under the Vehicle Scrapping Policy, the Transport Department has started taking strict action in Noida. Now, 15-year-old petrol and 10-year-old diesel vehicles will be seized and scrapped in Noida and Greater Noida from February 1.
(Pic: Reuters)
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