Simplification of customs will be next big reform, says Finance Minister
GST
Dated:- 6-12-2025
PTI
New Delhi, Dec 6 (PTI) Ahead of Budget 2026, Finance Minister Nirmala Sitharaman on Saturday said the simplification of customs would be the next big reform agenda for the government.
During the current financial year, the government undertook reforms such as rate rationalisation and simplification of the income tax and Goods and Services Tax (GST) in a bid to boost consumption by providing more cash in the hands of the common man.
“We need a complete overhaul of customs… we need to have customs simplified for people to feel that it is not cumbersome to comply… need to make it more transparent,” Sitharaman said while speaki
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goods, following the removal of seven tariffs in 2023-24 (announced in the previous budget speech on July 23, 2024). This reduces the total number of tariff slabs to eight, including a zero rate.
On the depreciating rupee against the dollar, Sitharaman said, it will find its natural level.
The rupee has depreciated about 5 per cent against the US dollar during the calendar year 2025.
The rupee breached the 90-a-dollar level for the first time to settle at a fresh all-time low of 90.21 (provisional) on Wednesday, down 25 paise from its previous close, amid sustained foreign fund outflows and higher crude oil prices.
Sitharaman exuded confidence that the GDP growth would be 7 per cent or above during the current financial year.
The
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