BUDGET PROPOSALS FOR CUSTOMS AND CENTRAL EXCISE AIM TO FURTHER SIMPLIFY TARIFF STRUCTURE, SUPPORT DOMESTIC MANUFACTURING: UNION FINANCE MINISTER

• Union Budget 2026-27 (presented 1 Feb 2026 by FM Nirmala Sitharaman) sets the direction of Customs and Central Excise policy: simplify tariff, support domestic manufacturing, promote export competitiveness, correct inverted duty.
• Builds on the 2025-26 exercise of pruning customs tariff slabs and weeding out long-continuing exemptions.
• Relevant for UPSC GS-III (Indian Economy, Industrial Policy, Trade) and Prelims Economy/Schemes.