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After simplifying the income tax, the next big target of the government is to clean up the customs duty. Finance Minister Nirmala Sitharaman gave this hint in a leadership summit on December 6, 2025.
New Delhi. The government has won a big victory by simplifying the income tax system and now Finance Minister Nirmala Sitharaman has clearly indicated the next big change. This time the target is the Customs system, where the clean-up operation is about to begin. This statement of the Finance Minister in Hindustan Times Leadership Summit 2025 was as if he had told that now the government is going to make a big change for traders, import-export and industry. This signal is important because the budget is to be presented in February 2026.
The Finance Minister said that overhaul of the customs system has now become necessary. This will not only increase ease of doing business but will also curb corruption and make the import-export process more transparent and easy. He said that now the time has come that the Customs Department should also be made transparent and modern in the same way as the government had implemented the changes in Income Tax Administration in the form of faceless system.
Sitharaman said on freebies – states’ budget may get spoiled
Sitharaman expressed concern over the freebies being distributed by the states during the elections. He said that many states take expensive loans and announce free schemes, which puts huge pressure on their budget. The central government is talking to the states so that they can manage the debt in a better way.
What did you say about the falling rupee?
On December 3, the rupee touched a record low of 90.43. On this the Finance Minister said that the rupee will find its natural level on its own. He said that today India’s economy is stronger than ever. Inflation is controlled, growth is sustained and fundamentals are stable despite external conditions.
What major challenges did the government overcome?
During the session, the Finance Minister mentioned several obstacles-
- Achieving faster growth after Covid
- Impact of wars, especially on grain supply
- Additional expenses in election year
- Bringing Jammu and Kashmir’s banking system and economy back on track after Pahalgam terrorist attack.
