Financial Year 2025-26 Kicks Off: Lower LPG Rates, Higher Car Prices, and Other Updates

The new financial year, 2025-26, kicked off on April 1st, bringing with it some significant changes for people across India. New rules have been put in place for senior citizens and women, and there are also updates to how UPI transactions work. As is customary, fuel prices were reviewed at the beginning of the month. While petrol prices stayed the same, there may be other changes that affect consumers.

The price of a 19 kg commercial LPG cylinder has been reduced by Rs 44.50.

Updated Prices in Major Cities:

Delhi: The price has dropped by ₹41, bringing it down to ₹1,762 from the previous ₹1,803.

Kolkata: A reduction of ₹44.50 now sets the price at ₹1,868.50.

Mumbai: The cost has decreased by ₹42, making the new price ₹1,755.50.

Chennai: The revised price is ₹1,921.50.

While commercial LPG cylinder prices have dropped, the price of a 14kg domestic cylinder remains unchanged at around Rs 800 in major cities like Delhi, Mumbai, Chennai, and Kolkata.

Aviation Turbine Fuel (ATF) prices have been reduced across the country, which could lead to lower airfares. Indian Oil’s latest update shows that ATF prices have dropped in all major cities.

Revised Aviation Turbine Fuel (ATF) Prices:

Delhi: The price has dropped from ₹95,311.72 to ₹89,441 per kilolitre.

Kolkata: A reduction of ₹5,667.66 has brought the price down to ₹91,921 per kilolitre.

Mumbai: The updated price is now ₹83,575.42 per kilolitre.

Chennai: The new rate stands at ₹92,503.80 per kilolitre.

This decline in fuel prices could lead to lower airfare, making flights more affordable for travelers.

Several major automakers have raised their prices starting April 1st. Tata Motors, Kia India, Hyundai India, and Honda Cars have all increased prices across different models. Maruti Suzuki cars might see a price hike of up to 4%, depending on the model. Kia India, Hyundai India, Mahindra & Mahindra, and BMW India have increased prices by 3%, while Renault India has raised prices by 2%.

As car prices continue to rise, vehicle owners can find some relief in the fact that petrol and diesel prices have remained steady. In major cities, petrol costs between ₹90 and ₹100 per litre, while diesel is priced around ₹90 per litre. Despite the increasing cost of cars, the stability in fuel prices offers a small consolation.

Possible Changes in Bank Minimum Balance Rules

Several leading banks, including SBI, Canara Bank, and Punjab National Bank, may soon revise their minimum balance requirements. This is the minimum amount customers must maintain in their accounts to avoid penalties. If an account balance falls below this limit, banks may apply charges. Customers should check with their banks for the latest updates on these changes.

Increased Tax Benefits for Senior Citizens

To provide financial relief to senior citizens, the government has doubled the tax exemption on income from post office schemes. Previously, seniors could claim a tax exemption of ₹50,000 on such earnings, but this limit has now been raised to ₹1 lakh. This adjustment aims to offer better financial security and support to older citizens.

Mahila Samman Savings Certificate Scheme Ends

Starting April 1st, the government has officially discontinued the Mahila Samman Savings Certificate (MSSC) Scheme. This program allowed women to earn a 7.5% annual return with a two-year investment period. The scheme, which was introduced to encourage financial growth for women, has now come to an end.

New Pension Scheme

The new Unified Pension Scheme (UPS) for central government employees aims to strike a balance between the Old Pension Scheme (OPS) and New Pension Scheme (NPS). It guarantees a pension of Rs 10,000.