<h1>Government plans major customs overhaul to simplify procedures, rationalise duty rates and boost trade ahead of Budget 2026</h1> The Union Finance Minister announced that comprehensive customs law and policy reform will be the government's next major agenda ahead of Budget 2026. After recent rationalisation and simplification of income tax and GST, the government now aims to overhaul customs procedures to enhance transparency, reduce compliance burden, and rationalise customs duty rates, including lowering rates considered above optimal levels. Recent budgets have already cut multiple additional tariff rates on industrial goods, reducing tariff slabs to eight, including a zero rate. Further reforms and rate changes are expected to be detailed in the upcoming Budget, with the objective of facilitating trade and supporting economic growth.