News you can use: Important changes in India for New Year 2025

As 2025 begins, several new regulations and changes across sectors are set to impact individuals and businesses in India. Here are the top five updates effective January 1, 2025:

• Automobile Price Hikes

Car prices are set to increase by 2-4%, with manufacturers like Maruti Suzuki, Hyundai, Mahindra, and MG citing rising input and operational costs. Customers planning vehicle purchases in 2025 should anticipate higher prices, impacting both hatchbacks and luxury vehicles.

Also Read: What is in store for Bengaluru 2025?: Transforming Mobility and Infrastructure

• Kisan Loan Reforms

The Reserve Bank of India (RBI) has increased the limit for unsecured agricultural loans to ₹2 lakh, up from ₹1.6 lakh. This initiative waives collateral and margin requirements, providing financial relief to small and marginal farmers, addressing rising input costs, and boosting agricultural productivity.

• UPI Transaction Limits Raised

The RBI has doubled UPI transaction limits for UPI 123Pay to ₹10,000 and for UPI Lite to ₹1,000. These changes aim to enhance financial inclusion, particularly benefiting rural users and senior citizens.

• Simplified EPFO Pension Withdrawals

Under the new Centralised Pension Payment System (CPPS), pensioners can withdraw funds from any bank ATM. This upgrade enhances accessibility for 7.8 million EPFO members.

• Thailand E-Visa System

Thailand’s global e-Visa system launches January 1, simplifying travel for international tourists. While Indian citizens enjoy visa-free stays up to 60 days, the e-Visa facilitates easier entry for longer stays.

These changes underline the importance of proactive adaptation for individuals and businesses alike.