Must read list of government's rules that may change your life from Jan 1, 2016

Zee Media Bureau

New Delhi: It must be the first time that government has announced so many changes in rules and regulations that have come into effect from the New Year or January 1, 2016.

These rules that are set to change your life and likely to have a permanent impact on your life are as follows:

1) The 7th Central Pay Commission salary hike: Even though the 7th CPC submitted its recommendations and government is yet to put its final seal of acceptance, the salaries for Central Government employees and pensioners for the years 2016 to 2026 will be based on these recommendations.The salary revision will be effective from January 1, 2016.

2) Petrol/Diesel price cut: Petrol price was cut by 63 paise per litre, and diesel rate was lowered by Rs 1.06 a litre, on the back of a softening global oil market. Revised prices took effect from the midnight of December 31 and January 1, 2016. 

3) Call drops compensation: Telecom carriers were asked by the telecom regulator to compensate consumers for call drops, subject to a cap of Rs 3 a day (Rs 1 for each call drop) per subscriber.

4) Permanent Account Number becomes mandatory for purchases/ spends touching Rs 50,000:

Also a false declaration by an individual not possessing PAN card can also put him in jail for upto seven years and a steep fine as part of Income Tax regulations that will come into force from January 2016.

5) Hike in the cost of non-subsidised LPG cylinders:

The hike came into effect from midnight of December 31, 2015 and January 1, 2016.

6) End of subsidy quota on LPG for those with an annual income of Rs 10 lakh and more 

7) CNG for automobiles: Compressed Natural Gas or CNG for vehicles plying in the national capital region will cost Rs 1.5 per kg less during odd-hours, that is, midnight to 5 am.

8)ATF price cut: Oil companies cut aviation turbine fuel ATF prices by 10 percent on account of low crude oil prices globally.