India's Stance on Customs Duty Reduction

Finance Minister Nirmala Sitharaman has firmly denied allegations that the Indian government is reducing customs duties under pressure from the Trump administration. She emphasized that this move aligns with the Centre's long-term policy aimed at simplifying customs duty and compliance, as well as supporting the 'Atma Nirbhar Bharat' and 'Viksit Bharat' initiatives.

Opposition's Allegations and Government's Response

Several opposition MPs, including former Finance Minister P Chidambaram, accused the government of making tax changes under US pressure. In response, the government has rationalized the number of customs slabs and lowered levies on high-end bikes and batteries, among other items, in the budget.

Commitment to Fiscal Glide Path

Sitharaman reiterated the government's commitment to adhering to the fiscal glide path, highlighting the reduction in income tax and tariffs as steps towards making India a manufacturing hub. She also addressed concerns related to pension rules, assuring that existing pensions for civil and defense pensioners remain unaffected.