FM Nirmala Sitharaman lauds CBIC for duty rationalisation exercise
Speaking at International Customs Day 2025, finance minister Sitharaman said the CBIC team has been working very hard to rationalize the customs duties for the last two years.
ANI
Feb 17, 2025 20:35 IST
Mumbai (Maharashtra) [India], February 17 (ANI): Finance Minister Nirmala Sitharaman lauded the Central Board of Indirect Taxes and Customs (CBIC) for its duty rationalization activity.
Speaking at International Customs Day 2025, finance minister Sitharaman said the CBIC team has been working very hard to rationalize the customs duties for the last two years.
The duties on some items were unreasonably high at upwards of 150 per cent, or for some at 200 per cent.
"Is this the era of that kind of high duties, even as we speak about Atmanirbharta," she asked, addressing the gathering.
"I'm glad that the custom CBIC took a very comprehensive view of it, and in the last two years, has worked to ensure one those fantastically high rates are brought down...as a result of two years of working, progressively, we've cut down on duties, and only eight of them remain now," she asserted.
She appreciated the Board's work.
"I appreciate every one of you for having participated in this exercise and clearly stood out as that board which is not looking at customs as a revenue generating instrument, it is more a measure to regulate our imports and more measure to facilitate our exports," she supplemented.
She added that CBIC should lead the way, to show the World Customs Organisation (WCO) that India is on the top -- both in terms of performance and being futuristic.
"CBIC should lead the way to show the World Customs Organisation (WCO) that we are on the top, both in terms of performance and also in the ways we are futuristic to make sure the global customs ecosystem can learn from us. I look up to CBIC0 to give that kind of leadership in customs and customs regulations."
During the event, 20 officers of were awarded the WCO_OMD Certificate of Merit for their exceptional achievements in area such as enforcement, modernization, capacity building and international cooperation.
Sitharaman said these Awards are recognition for people who are actually at the front, at the border areas.
"You're not allowing illegal things to come in and preventing it to enter into the hinterland and therefore the contribution made by you all is unmatched. These awards should be seen with discerning eyes saying that the person receiving it has made an immense contribution to the Indian economy and India's economic security," Sitharaman added. (ANI)
Get the App
