As we all know that from 1st April, India’s new Financial Year starts. Most of the changes with respect to financial get applied today and we all must know what is changing this year.
Following is a list of major items that are regular use and may impact your pockets because they either becoming cheaper or costlier.
Have a look.
- The prices of Petrol and Diesel are reduced significantly. Petrol price is reduced by Rs. 3.77 per litre while Diesel price is reduced by Rs. 2.91 per litre
- As per Supreme Court latest guidelines, restaurants, bars, hotels etc cannot sell liquor if they are close to National or State highway.
- From 1st April you can do cash transaction up to 2 lakhs only. Government will have watch on such transactions and if found guilty, an amount equal to the transaction will be charged as the penalty.
- IT return filling has become easier. IT department will issue new IT return form on April 1st.
- Like private bank, now State Bank of India customers too have to maintain a minimum balance in their accounts. From April 1st, in metropolitan areas the minimum balance should be Rs 5,000 and in rural areas it is Rs. 1.000.
- Now you’ll get less interest on PPF and other lesser saving schemes. Government has reduced interest rate by 0.1 percent
- Personal and Automobile (2-wheeler and 4-wheeler) insurance to get costlier from April 1st.
- Aadhaar card has become mandatory for taking benefit of Fasal Bima Yojana so as to track all the progress.
- Third party insurance on vehicles gets costlier, premier gets nearly 50 percent dearer.
- Starting 1st April, Censor board gets online
- Vikalp Seva in trains to start from April 1 considering in mind that there are hundreds of passengers that do not get a confirm railway ticket. If one fails to get confirm railway ticket, he will be given the ticket in some other train running on the same route. However, this facility will be application for tickets booked online. This way government is trying to promote digital transactions as well.
- Passengers flying out of seven biggest airports - Delhi, Mumbai, Kolkata, Bengaluru, Hyderabad, Ahmedabad and Cochin - will no longer have to get their cabin bag tags stamped security checked starting April 1st.
Posted On : 01-Apr-2017