New Rule: February 1, 2026, is going to be a very special day for India. While Finance Minister Nirmala Sitharaman will present the Union Budget for the financial year 2026-27 in Parliament, the first of the month will also bring significant changes to many important rules related to your daily life. Since February 1 falls on a Sunday this year, the dynamics of banking, tax, and verification systems will completely change. If you are planning to purchase an LPG cylinder, FASTag, or property, it is essential to know about these changes.
LPG Cylinders and Air Travel
Oil companies review fuel prices on the first of every month. New rates for domestic (14.2 kg) and commercial (19 kg) LPG cylinders will be released on the morning of February 1, 2026. LPG prices may change depending on fluctuations in international crude oil prices.
Additionally, the prices of CNG, PNG, and Aviation Turbine Fuel (ATF) are also likely to change. It’s worth noting that if ATF, or aviation turbine fuel, becomes more expensive, air ticket prices may increase in the coming days, potentially impacting the average person’s travel budget.
Big Relief for FASTag Holders
February begins with a significant relief for motorists. Effective February 1st, the requirement for repeated KYC verification for FASTags has been eliminated.
According to the new rule, banks will now fully verify the vehicle with the official vehicle database before issuing a FASTag. The biggest advantage is that once a FASTag is activated, users will no longer have to constantly update their KYC. This will reduce technical glitches at toll plazas, making your journey more seamless.
Land and House Registration
To bring transparency to the property market and curb benami property, the government has significantly tightened regulations. Starting February 1, 2026, Aadhaar authentication will be mandatory for any land or house registration.
Now, not only the buyer and seller, but also the witnesses present at the time of registration will undergo on-the-spot Aadhaar verification. This revolutionary step is expected to completely curb land fraud and fraud committed through fake powers of attorney. This rule will provide a safeguard for those who dream of buying a home with their hard-earned money.
New Tax on Tobacco and Pan Masala
If you consume pan masala or tobacco products, your pocketbook is about to become burdensome. According to a new bill passed by Parliament, additional taxes will be imposed on these products from February 1, 2026.
Additional excise duty will be imposed on tobacco products, while a ‘Health and National Security Cess’ will be imposed on pan masala. This rule will take effect simultaneously across the country. The government’s objective is to generate revenue while also discouraging tobacco consumption, thereby improving public health.
Banks Closed on Budget Day
It’s rare in history for banks to be closed on Budget Day. However, since February 1, 2026, falls on a Sunday, banks across the country will be closed. However, due to the urgency of the Budget session and the convenience of global investors, the stock market will remain open. This will allow investors to react quickly to the budget’s major announcements.
Despite bank branches being closed, digital banking, UPI, and ATM services will remain operational as usual. If you have any check deposits or paperwork to complete with your bank, it would be wise to complete them in time.