India, Feb. 1 -- The Government of India issued the following news release:
The Union Budget 2025-26 presented by Union Minister for Finance and Corporate Affairs, Smt Nirmala Sitharaman in parliament today, focuses its customs proposals on rationalizing tariff structure and addressing duty inversion. The Minister said that the proposals will also support domestic manufacturing and value addition while promoting exports, facilitating trade and providing relief to common people.
Delivering on the promise to review customs rate structure announced in July 2024, the Budget proposes to remove seven customs tariff rates for industrial goods over and above the seven tariff rates removed in Budget 2023-24. This will leave only eight tariff rates...