'Economy will grow at 7% or…': Nirmala Sitharaman on income tax, GST cut impact | HTLS 2025

Union Finance Minister Nirmala Sitharaman has said the government's next focus of reforms includes an overhaul of the custom duty system, much as the income tax regime has been simplified. “We made sure that income tax is no longer a tiresome exercise,” she cited as an example, recalling that the I-T regime was often termed “tax terrorism”, speaking at the 23rd Hindustan Times Leadership Summit on December 6, 2025.