Hyderabad: As we move into September 2024, there are a number of important financial changes that may directly impact your wallet and influence your household budget. This apart, there are a few deadlines that are to be kept in mind. Thus it is essential to stay informed about these major changes that will come into effect from the first day of the month.
Here's a detailed overview of the six key changes and their potential impact on your finances:
1. Price adjustments for LPG cylinders :
It's a common occurrence that the government alters the cost of LPG every month. This includes adjustments in the rates for business-grade gas cylinders to domestic cooking gas. Therefore, it's anticipated that there will be a price adjustment for LPG cylinders this month as well. In the previous month, the cost of business-grade LPG gas cylinders rose by Rs 8.50, whereas in July, it saw a decrease of Rs 30.
2. Price changes for ATF and CNG-PNG:
Along with LPG cylinder prices, oil market players adjust the prices of air turbine fuel (ATF) and CNG-PNG. As a result of which, pricing can fluctuate on the first date.
3. New TRAI regulations to prevent fake calls and messages :
Starting September 1, telecom companies will no longer be allowed to make fake calls and messages. The Telecom Regulatory Authority of India (TRAI) has set a strict rule for this. Companies such as Jio, Airtel, Vodafone, Idea, and BSNL have to stop making telemarketing calls and sending commercial messages from 140 series mobile numbers by September 30. This move aims to eliminate fake calls by the start of September.
4. Credit Card Rules Update:
Come September 1, there will be a number of changes in the credit card regulations. The HDFC Bank will eliminate reward points for purchases made for education through third-party apps and place additional restrictions on reward points for utility transactions. On the other hand, IDFC First Bank will reduce the credit card minimum payable amount and the payment deadline from 18 to 15 days. Customers who use their RuPay credit cards to make UPI payments will also get reward points that are in tune with those from other credit card companies. The management and growth of reward points will be impacted by these changes.
5. Expected Increase in DA:
For the central government employees, a major announcement is likely to be expected in September. It is anticipated that the government will raise the Dearness Allowance (DA) by 3 percent. Presently, the DA for government employees is 50 percent and following a 3 percent increase, this amount will rise to 53 percent.
6. Deadline for updating Aadhaar cards for free:
The deadline for updating Aadhaar cards for free has been extended till September 14. After which, you may not be able to update some Aadhaar-related information for free. Post September 14, you will be required to pay a fee to update Aadhaar. Previously, the deadline for free Aadhaar updates was June 14, which was later extended to September 14.
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