Several financial, policy and regulatory changes come into effect from July 1, impacting households, businesses, fuel consumers, taxpayers and financial institutions. The changes range from a new rural employment law and fuel pricing revisions to tighter banking rules, tax deadlines and incentives for electric vehicles.

Here is a look at the major changes coming into force from today:

1. VB-G RAM G Act replaces MGNREGA

Under the new law, the government has revised wage rates under the rural employment programme. The national average wage has increased from ₹298.8 per day to ₹327.4 per day — an average rise of Rs 28.6.

A new minimum base wage of ₹300 per day has also been introduced to ensure no notified wage falls below that level.

The revised framework raises the statutory employment guarantee from 100 days to 125 days for eligible rural households. States that earlier had lower wage levels are expected to see sharper increases, while states with already higher wages have also received upward revisions.

2. Commercial LPG gets cheaper

Businesses using commercial cooking gas will get some relief as oil marketing companies have reduced the price of 19-kg commercial LPG cylinders by ₹183.50. The reduction follows months of price pressure linked to supply disruptions and marks the first cut in commercial LPG prices this year.

After the revision, a commercial LPG cylinder will cost ₹2,930 in Delhi and ₹2,884 in Mumbai. There is, however, no change in domestic LPG cylinder prices used by households.

3. Delhi rolls out new EV policy

Electric cars priced up to ₹30 lakh and registered in Delhi will receive full exemption from road tax and registration fees. Buyers of electric two-wheelers and electric auto-rickshaws will receive incentives that gradually reduce over the coming years. The policy also includes support for replacing older vehicles with electric alternatives.

4. Govt removes fuel purchase restrictions for commercial users

Restrictions imposed earlier on the retail sale of petrol and diesel to industrial and commercial buyers have been withdrawn.

Last month, the government had limited fuel purchases by commercial consumers and capped diesel sales at retail outlets to prevent diversion and hoarding after a sharp price gap emerged between retail and bulk fuel rates.

The move affected private fuel retailers, whose diesel sales dropped significantly, while state-run oil companies saw stronger demand growth.

With energy procurement conditions improving, commercial users will now be able to buy fuel from retail outlets again.

5. RBI’s stricter anti-misselling rules take effect

The Reserve Bank of India’s new framework aimed at preventing misselling of financial products becomes effective from July 1. The rules are designed to ensure customers are not sold financial products without clear consent or through misleading communication.

Banks may be required to refund customers and compensate them if financial loss results from misselling.

The framework also limits promotional and telemarketing calls, allowing such communication only between 9 am and 6 pm.

6. Export duties on fuel revised

The government has revised windfall taxes on petroleum exports. Export duty on diesel has been reduced to ₹8.5 per litre from ₹14 per litre, while the levy on aviation turbine fuel (ATF) has been lowered to ₹7.5 per litre from ₹12.5 per litre.

At the same time, export duty on petrol has been increased to ₹4 per litre from ₹1.5 per litre to maintain domestic supply.

7. Final month begins for income tax return filing

July marks the final month for filing income tax returns for FY26 (assessment year 2026–27). Individuals filing ITR-1 and ITR-2 must submit returns by July 31.

Missing the deadline could lead to late fees and may restrict certain tax benefits. Taxpayers are advised to keep documents such as Form 16, bank records and capital gains details ready before filing.

8. Aadhaar email update becomes free temporarily

Updating the email address linked to Aadhaar will remain free for six months. The UIDAI has waived the usual ₹75 charge for updates made through the Aadhaar mobile application between July 1 and December 31, 2026.

9. Passport application fees rise

Passport services become more expensive from July 1 following a revision in charges. The fee for a normal 36-page passport has increased to ₹2,500, while a normal 60-page passport will now cost ₹3,500.

Tatkaal applications will cost ₹5,000 for a 36-page passport and ₹6,000 for a 60-page version.

The revised charges apply to both fresh applications and renewals.

10. Indian Railways increases penalties for ticketless travel

Indian Railways has raised the penalty for travelling without a valid ticket from ₹250 to ₹500. Passengers travelling in unsafe or unauthorised areas such as roofs, steps or engines may face higher penalties and legal action if dues remain unpaid.

11. RBI norms to increase funding discipline for trading firms

New RBI rules for capital market participants also take effect from July 1. Bank guarantees issued to proprietary trading firms and stock brokers will now need to be fully backed by collateral, with at least half maintained in cash.

The move is intended to reduce financial risk but may raise funding costs and limit leverage for firms that rely heavily on bank-backed capital for trading activities.