Finance Bill 2025: Tax Certainty, Equalisation Levy and Customs Reform
Why in the news
The Finance Minister answered criticism on the equalisation levy and customs changes while stressing stable tax policy.
Key facts
- Objectives: tax certainty, ease of doing business for firms, salaried people and exporters, and a growth-first, revenue-neutral stance.
- Equalisation levy: the opposition alleged that the 2% digital tax was dropped under US tariff pressure; the FM said it was decided in July 2024.
- Customs duty: changes follow domestic needs, not outside pressure; lower tariffs target a manufacturing hub.
| Theme | Government position |
|---|---|
| Fiscal deficit | On a glide path and within FRBM Act norms |
| Customs | Part of Viksit Bharat and Atmanirbhar Bharat plans |
Exam angle
- Tax withdrawn: 2% equalisation levy.