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February 1 Reset: Budget Buzz, Tax Relief Hopes & Big Rule Changes Kick In

Shimla /Delhi January 31, 2026
As January wraps up, February 1 brings a wave of major policy and price changes that could directly impact household budgets across India. From the much-awaited Union Budget to revised transport concessions, property registration rules, and fuel price updates — here’s what changes from tomorrow:
💼 Union Budget 2026: Middle Class Awaits Relief
All eyes are on the Union Budget to be presented on February 1. The middle class is expecting income tax relief, while increased allocations for education, healthcare, housing subsidies, and farmer welfare are anticipated. Key announcements may also focus on employment, self-employment, defense, and public health spending.
🚌 HRTC Concessional Travel Now Linked to ‘Him Bus Card’
The Himachal Road Transport Corporation (HRTC) has revised its concession policy. From February 1, discounted bus fares will only be available to passengers holding the official “Him Bus Card.”
Passengers without the card can apply through Lok Mitra Kendras or via the official HRTC website.
🚗 FASTag Simplified: KYV Process Ends
The “Know Your Vehicle” (KYV) process for FASTag users has been discontinued. Banks will now handle vehicle verification at the time of tag issuance. Re-verification will happen only if complaints arise, aiming to ease congestion and speed up toll transactions.
🏠 Aadhaar Mandatory for Property Registration
From February 1, Aadhaar authentication becomes compulsory in property transactions. Buyers, sellers, and witnesses must complete verification at sub-registrar offices.
Biometric devices will be connected to UIDAI servers. If fingerprint verification fails, face authentication or OTP verification will be used. The move aims to curb benami property dealings and enhance transparency.
🚬 Tobacco Products to Become Costlier
Prices of bidis, cigarettes, and pan masala may rise by ₹3–₹5 due to additional excise duty and health cess, increasing expenses for consumers.
⛽ LPG, CNG, PNG & ATF Prices May Change
As part of the monthly revision cycle, new LPG rates — especially for 19-kg commercial cylinders — may be announced on February 1. Domestic LPG, CNG, PNG, and ATF prices could also see adjustments.
📌 Bottom Line:
February 1 marks a significant policy and pricing reset. From taxes to transport and fuel to property registration, these changes could shape monthly budgets and financial planning for millions.
Stay tuned for live Budget updates and official rate announcements.
January 31, 2026
Budget 2025-26 Highlights : No income tax payable up to income of Rs12 lakh
NEW DELHI
Finance Minister Nirmala Sitharaman presented the Union Budget 2025-26, outlining what she called a roadmap for economic growth, social welfare, and technological advancement. With a strong push for agriculture, infrastructure, tax relief, and digital transformation, the budget also stressed defense modernization, cybersecurity, and space exploration. Highlights include higher credit for farmers, tax cuts for the middle class, record investments in healthcare and education, and a focus on innovation and manufacturing. Here’s a look at the biggest takeaways from this year’s budget.
The 2025–26 Budget appears to introduce structural changes across many sectors through policy adjustments and funding allocations. The measures span public infrastructure, social programs, and economic reforms, setting a framework for implementation through 2026. State governments will receive support for specific initiatives, said the Finance Minister, while industry incentives target manufacturing and technology development. The policy document establishes new parameters for taxation, credit access, and social welfare programs, with defined timelines for execution across urban and rural regions.
New Income Tax Slabs for 2025-26 Updates:
- - ₹0-4 Lakh – nil
  - ₹4 lakh – 8 lakh – 5%
  - ₹8 lakh – 12 lakh: 10%
  - ₹12 lakh – 16 lakh : 15%
  - ₹16 lakh – 20 lakh: 20%
  - ₹20 lakh – 24 lakh: 25%
  - ₹24 lakh & above: 30%
Budget 2025 Key Announcement & Highlights
The following are the key highlights and announcements of the Union Budget 2025 presented by Finance Minister Nirmala Sitharaman today:
- Gareeb, youth, nari will be the key focus
  Underemployment in agri will be addressed, 1.7 crore farmers will benefit
  National Mission on high yielding seeds will be launched
FM proposes 5-year programme for increasing Cotton Productivity
- India Post to become large public logistic organisation
  Atal Tinkering Labs: 50,000 such labs to be set up in govt schools in 5 years
  ₹10,000 crore fund of funds proposed for start ups
  10,000 additional seats to be inculcated in medical institutes; 75,000 medical seats in 5 years will be created
  Kisan Credit Cards for 7.7 crore farmers; loan Limit enhanced to ₹5 lakh
  MSME: Term loans up to ₹20 crore will be given
  Modified UDAN scheme to be launched; 120 new destinations under modified UDAN scheme
  SWAMIH Fund: another 40,000 housing units to be completed in 2025
  Top 50 tourism destination to be developed
  National Geospatial Mission announced
  Second Gene Bank to be set up for future food security
  Greenfield airports to be facilitated in Bihar
New income tax bill next week, says Sitharam an
- Jan Vishwas Bill 2.0 to be brought in to decriminalise 100 provisions
  Revised fiscal deficit estimated to be 4.8% of GDP
  Capital expenditure at ₹10.18 lakh crore
  Gross market borrowings at ₹14.82 lakh crore
  Social welfare surcharge on 82 tariff lines waived
  36 life-saving drugs fully exempted from customs duty
  Handicrafts: 9 items to be added to duty free inputs
  Personal tax reforms with special focus on middle class
  TCS for remittance on education purposes removed
  Compliance burden reduced for small charitable trusts
  New scheme to determine Arms length Price in international transactions to be introduced
  Digitalisation being operationalised in tax frameworks
  Start ups: Extending incorporation benefits for five years
No income tax payable up to income of ₹12 lakh
- Capital gains limit exceeded to ₹12.7 lakh
  Income tax slabs changed
  Income of ₹18 lakh will get ₹70,000 tax benefit
  Now maximum rate of 30% kick in at ₹24 lakh taxable compared to ₹15 lakh earlier
February 1, 2025
Pratibha should issue a white paper on the expert calculating guarantees and budgets: Trilok Kapoor
Where will the funds for false guarantees will come from, Congress should give a white paper to the people of the state: Trilok Kapoor
Shimla
Bharatiya Janata Party’s State General Secretary Trilok Kapoor has countered the statement of Congress President Pratibha Singh in which she had asked to release a white paper on the funds being given for the development works by Chief Minister Jai Ram Thakur.
Trilok Kapoor said that congress should brief the people of the state on the source of funds for the fakse guarantees that Congress is giving to mislead the simple honest voters of the state, first Congress should issue a white paper regarding it.
Trilok Kapoor said that work was done for the bulk drug park in the double engine government at lightening speed. The DPR has also been approved and the first installment of the money has also been released in record time. In a double engine government, nothing is airborne but supported by work and execution.
He asked Pratibha Singh that the previous Congress governments had given lot of promises and assurances to the people of Himachal, please give a white paper on that before asking from the BJP government, he said that Jai Ram government of the state is making only those announcements on the basis of budget which are necessary executable and practical.
He said that the late Virbhadra Singh was the CM for six times, how many times he issued white paper on his promises and that of the congress party.
Trilok Kapoor said that the Congress government used to announce to build a college for 5 lakhs and school for 1 lakh for political gains but BJP does not distort the facts and financial health of the state to misguide voters. Today, when the chariot of development is running at a fast pace in every sector of the entire state, the Congress leaders are getting jealous. State BJP General Secretary Trilok Kapoor said that the BJP government never does vote politics, but has been working for public interest and public welfare. He asked Pratibha Singh that from where will the money come for the guarantees you are giving. Your leaders say that our experts have done the calculations. You issue a white paper and tell who are the experts and how are they providing for the budgets to supplement the income of the state and stop befooling the people.
Congress leaders giving guarantees of without budget and planning
State BJP General Secretary Trilok Kapoor said that Harsh Mahajan, who was the Vice President of PCC and incharge election management, left the Congress and directly said that Congress has given guarantees without concrete planning and the budget required for the same . Mahajan told that Congress leaders used to say about money that if they come to power, they will see later, means it’s a false assurance not backed by facts and given just to mislead voters for petty instant gains. State BJP General Secretary Trilok Kapoor said that senior congress leaders are joining BJP after being hurt by the words and deeds of Congress leadership high command and lack of policies programs for the public whereas happy with the policies of BJP. Trilok Kapoor said that there is no guarantee of Congress leaders staying in the party, whether they will walk with Pratibha Singh or with Sukhu. Not only this, but Pratibha Singh’s post also has no guarantee when it will be snatched by the High Command .
The electorate of the state will choose wisely and vote for the double engine government which has the vision and capability to lead the state on the path of development.
October 10, 2022