India, Feb. 1 -- Union Finance Minister Nirmala Sitharaman, while presenting the Union Budget 2026-27 in Parliament on Sunday, announced a series of proposals under Customs and Central Excise aimed at simplifying the tariff structure, supporting domestic manufacturing, enhancing export competitiveness and correcting inverted duty structures.

Ease of Living

To rationalise customs duties and improve ease of living, the Budget proposes reducing the tariff rate on all dutiable goods imported for personal use from 20 per cent to 10 per cent.

In a move to provide relief to patients, particularly those battling cancer, the government has proposed exempting basic customs duty on 17 specified drugs and medicines. The Budget also adds seven more...