ZisNews - Breaking News & Updates

UNion Finance government minister Nirmala Sitharaman has said the government's next focalise of reforms includes an modernise of the tradition tariff 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.Live updates | What Nirmala Sitharam said at HTLS 2025“The commentary used to be that income tax rates are not the problem — ‘yes, we want lower and lower rates’ — but it is the tax administration which causes the problem,” the senior BJP leader said, in conversation with HT Editor-in-Chief R Sukumar. She said the administration of tax became “painful, sometimes agonising”, which resulted in the “not-so-nice coinage, tax terrorism”.Watch | HT Leadership Summit 2025She said the government has moved to a “faceless” income tax system — referring to a simplified, online system.“Now the same virtues will have to be brought to customs,” she said, calling for transparency.She acknowledged that smuggling of illegal goods is “still a serious problem”."We have brought down custom duties in the last two years steadily. Customs is the next big assignment," she added.Nirmala Sitharaman, an economist by training and an alumnus of Jawaharlal Nehru University, has served as a minister throughout PM Narendra Modi's stint of 11 years and counting.Her current role, as Finance and Corporate Affairs Minister, began after the 2019 election. In this capacity, Sitharaman has been the chief architect of India's economic policy, steering the nation through the volatile period of the COVID-19 pandemic and championing structural reforms aimed at boosting investment, simplifying tax structures, and sustaining the country's growth trajectory.After the 2014 election, she became Minister of State (Independent Charge) for Commerce and Industry, and rose to become the Union Minister of Defence in 2017, before becoming Finance Minister.

Global News Perspectives

In today's interconnected world, staying informed about global events is more important than ever. ZisNews provides news coverage from multiple countries, allowing you to compare how different regions report on the same stories. This unique approach helps you gain a broader and more balanced understanding of international affairs. Whether it's politics, business, technology, or cultural trends, ZisNews ensures that you get a well-rounded perspective rather than a one-sided view. Expand your knowledge and see how global narratives unfold from different angles.

Customizable News Feed

At ZisNews, we understand that not every news story interests everyone. That's why we offer a customizable news feed, allowing you to control what you see. By adding keywords, you can filter out unwanted news, blocking articles that contain specific words in their titles or descriptions. This feature enables you to create a personalized experience where you only receive content that aligns with your interests. Register today to take full advantage of this functionality and enjoy a distraction-free news feed.

Like or Comment on News

Stay engaged with the news by interacting with stories that matter to you. Like or dislike articles based on your opinion, and share your thoughts in the comments section. Join discussions, see what others are saying, and be a part of an informed community that values meaningful conversations.

Download the Android App

For a seamless news experience, download the ZisNews Android app. Get instant notifications based on your selected categories and stay updated on breaking news. The app also allows you to block unwanted news, ensuring that you only receive content that aligns with your preferences. Stay connected anytime, anywhere.

Diverse News Categories

With ZisNews, you can explore a wide range of topics, ensuring that you never miss important developments. From Technology and Science to Sports, Politics, and Entertainment, we bring you the latest updates from the world's most trusted sources. Whether you are interested in groundbreaking scientific discoveries, tech innovations, or major sports events, our platform keeps you updated in real-time. Our carefully curated news selection helps you stay ahead, providing accurate and relevant stories tailored to diverse interests.

FM Nirmala Sitharaman explains how ‘tax terrorism’ was ended, reveals next step | HTLS 2025

Global News Perspectives

Customizable News Feed

Like or Comment on News

Download the Android App

Diverse News Categories

Category News

Country News