TARIFF RATE ON ALL DUTIABLE GOODS IMPORTED FOR PERSONAL USE TO BE REDUCED FROM 20% TO 10%

• Customs duty proposal in Union Budget 2026-27: tariff rate on all dutiable goods imported for personal use slashed from 20% to 10%.
• Part of a broader push to simplify the tariff structure, support domestic manufacturing, promote export competitiveness, and correct duty inversions.
• Bundled with BCD exemption on 17 drugs/medicines (cancer focus), addition of 7 rare diseases to the exemption list, and trade-facilitation measures for AEOs and exporters.
• UPSC relevance: GS-III (Indian Economy — fiscal policy, taxation, trade), GS-II (Health — drug affordability), Prelims (Budget current affairs).