Govt to lose ₹1,900 crore due to customs duty cuts in Budget: CBIC

Central Board of Indirect Taxes and Customs (CBIC) Chairman Sanjay Kumar Agarwal said the rationalisation of customs duty slabs in Budget 2025 will cost the government ₹1,900 crore. The Budget removed seven tariff rates, leaving only eight rates now. "The perception that India has very high tariffs has been corrected," he added.