Several financial and administrative rules have changed in India starting February 1, 2026. Finance Minister Nirmala Sitharaman also presented the Union Budget for 2026-27 on this day. These updates will directly impact the monthly budget of the common man and daily administrative tasks.
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Tobacco Products Become Costlier
The government has increased taxes on tobacco products starting this month. Items like cigarettes, gutka, and other tobacco goods will see a rise in prices. This increase is due to the hike in excise duty and cess imposed by the authorities.
Consumers using these products will now have to pay more at the shops. The price hike is immediate and affects all categories of tobacco items sold in the market.
Relief in FASTag KYC Rules
The National Highways Authority of India (NHAI) has simplified FASTag rules for vehicle owners. From February 1, there is no need for KYC verification after activating a FASTag. This removes the extra burden from the users.
The responsibility now lies with the banks issuing the FASTag. They must complete all vehicle-related checks before issuing the tag. Once the tag is active, users do not need to worry about further KYC processes.
Fuel Price Reviews
Oil companies review the prices of LPG, CNG, and PNG on the first day of every month. New rates for domestic and commercial gas cylinders are usually announced on this date. Changes in these prices often affect household kitchen budgets.
Aviation Turbine Fuel (ATF) prices are also subject to review, which can influence travel costs. People are advised to check the latest rates for gas and fuel in their respective cities.
