New Delhi, Aug. 7 -- The government plans to continue rationalising tariff structures and aims to bring Customs duty on most items down to single-digit levels by the Budget for 2027-28 (FY28), Union Finance Minister Nirmala Sitharaman said on Thursday.

Speaking at the National Council of Applied Economic Research's India Policy Forum in New Delhi, Sitharaman noted, "Maybe by the Budget of 2027-28, I'd be able to say that, barring a few items, it (Customs duty) will come down to single digits. Even now, barring 13 items, we have rationalised the rate," Business Standard reported.

This move follows earlier reforms in corporate tax, income tax, and the Goods and Services Tax (GST), making Customs duty rationalisation the next key focus are...