Replying to the debate on the Finance Bill 2026 in the Lok Sabha, Sitharaman emphasised that the ongoing economic reforms are not merely reactive measures but are being carried out out of clear commitment and trust in India’s growth trajectory
Finance Minister Nirmala Sitharaman said that a trust-based approach ensures that citizens feel encouraged to comply voluntarily. File Pic/PTI
Finance Minister Nirmala Sitharaman on Wednesday stated that India is “riding on the reform express,” asserting that reforms are being implemented with conviction, clarity, and confidence under the leadership of Prime Minister Narendra Modi.
Replying to the debate on the Finance Bill 2026 in the Lok Sabha, Sitharaman emphasised that the ongoing economic reforms are not merely reactive measures but are being carried out out of clear commitment and trust in India’s growth trajectory, reported the PTI.
“Reform is not happening out of compulsion, but out of conviction, with clarity, confidence and commitment. India is riding on the reform express under the leadership of Prime Minister Narendra Modi,” she stated, according to the news agency.
Strengthening tax administration
The Finance Minister highlighted the government’s focus on creating a trust-based tax administration. This includes reducing unnecessary hardship for honest taxpayers and making compliance easier while strengthening accountability.
Sitharaman noted that simplifying the tax system and introducing measures to empower small businesses and individuals is central to the government’s economic agenda.
“A trust-based approach ensures that citizens feel encouraged to comply voluntarily, reducing disputes and fostering a transparent environment,” she added, as per the PTI.
More than what is collected as cess and surcharges is spent under schemes to states, Sitharaman said in the Lok Sabha.
Empowering MSMEs, farmers, and cooperatives
The Finance Bill 2026 aims to support key contributors to India’s economy, including micro, small, and medium enterprises (MSMEs), farmers, and cooperatives. Sitharaman pointed out that these sectors are at the heart of employment generation, production, and overall national development, according to the PTI.
She said the Bill introduces measures that improve liquidity, reduce the compliance burden, and offer these sectors greater scope to contribute meaningfully to the economy.
Customs reforms and trade facilitation
Elaborating on the Bill, the Finance Minister stated that significant customs reforms have been proposed. The objective is to enhance trade facilitation by simplifying provisions, easing procedures, and making India a more attractive destination for international business.
“These reforms reflect the government’s commitment to modernise India’s economic governance and ensure that policies are practical, growth-oriented, and inclusive,” Sitharaman added.
(with PTI inputs)
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