After income tax and GST reforms, simplifying the custom tracks system is now the next priority of the government.

After making major reforms in the Income Tax and GST structure, the Central Government is now preparing for comprehensive simplification in the Customs Tax System. Finance Minister Nirmala Sitharaman said at the Hindustan Times Leadership Summit on Saturday that the next focus of the government will be on making the customs system modern, transparent and digitally efficient.

He said that the government has made the Income Tax process completely faceless and online and now work will be done to implement the same model in the Customs Department also. Sitharaman said, “We have continuously reduced customs duties in the last two years. Smuggling of illicit goods is still a big challenge. Customs is the next big assignment.”

Last week the Indian rupee had reached an all-time low of Rs 90 per dollar. On this, the Finance Minister said that the currency exchange rate is a sensitive subject and it should be assessed in the context of the overall economic situation of India.

He said, “Rupee and currency exchange rate are very sensitive issues… We had better raised these issues even when we were in the opposition. At that time inflation was very high, the economy was weak and when your currency also falls, it is not a positive sign for anyone. But look at the economic fundamentals of India, there are some factors which put us in a different league. This currency debate should be within the ambit of these realities.”

The rupee ended trading at 89.98 on Saturday, down about 0.6% over the week. On the economic front, the Reserve Bank of India (RBI) has raised the Indian economy’s growth forecast to 7.3% for 2025-26, from 6.8% earlier. RBI has made this increase keeping in mind the better prospects of the agriculture sector, the continued impact of GST rate cut, low inflation and strong balance sheets of corporates and banks. Along with this, the Monetary Policy Committee (MPC) reduced the inflation estimate from 2.6% to 2%, as the prices have stabilized due to the sharp fall in food prices and the impact of GST cut.

Experts believe that simplification of the customs system will accelerate cross-border trade, simplify import-export processes and better curb smuggling. The government’s indication of making Customs the next big reform project is being considered an important message for the business world.

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