February 2023 is almost here and some important changes are going to happen in that month. On February 1, the Union Government will also present its last full budget before the 2024 Lok Sabha elections.
However, announcements made on that day will come into effect from the next financial year, 2023-24 which begins on April 1. People have a lot of expectations from this budget. But before that, February will bring many changes which will have a direct impact on your pocket.
One percent fee on BoB credit card rent payments
In a major jolt to Bank of Baroda's credit card holders, the bank said it will charge 1 per cent fee on the total amount on all rent payment transactions. This rule will be effective from February 1, 2023.
If the customer makes a rent payment transaction of Rs 10,500 using his/her BoB credit card, then a fee of 1% of Rs 105 will be levied on the transaction.
Change in LPG prices
The prices of LPG gas cylinders are reviewed on the first day of every month. Companies then increase/decrease the price of LPG gas cylinders accordingly.
1.2 percent increase in Tata cars' price
Tata Motors announced that it will increase the prices of passenger vehicles. The company has cited regulatory changes and rising input costs as the reasons for the price hike. From February 1, 2023, the weighted average increase will be 1.2 percent depending on the variant and model.
Old vehicles to be scrapped in Noida
Old vehicles will now be seized on the basis of registration older than 15 years for petrol engines and 10 years for diesel engines from 1 February 2023 in the Noida region. This decision has come recently from the administration. From February 1, 15-year-old petrol and 10-year-old diesel vehicles will be seized and scrapped in Noida and Greater Noida.
Apart from this, more than nine lakh vehicles, owned by central and state governments, transport corporations and public sector undertakings, that are older than 15 years will go off the road from April 1 and new vehicles will replace them, Union minister Nitin Gadkari has said.
Union Budget
Finance Minister Nirmala Sitharaman will present the budget for the financial year 2023-24 on 1 February. People are expecting some big hopes from it. Decisions that give relief to the common man are expected in the budget.
