Conviction, not compulsion, driving reforms: FM

INDIA IS ADVANCING reforms not out of compulsion, as in the past, but out of conviction, marked by clarity, confidence, and commitment, Finance Minister Nirmala Sitharaman said on Wednesday.

- FE BUREAU

“India is riding on the Reform Express under the leadership of PM (Narendra) Modi,” she said while replying to a debate on the Finance Bill 2026, which was later approved by the Lok Sabha.

She underlined that the Finance Bill is anchored in five guiding principles: strengthening trust-based tax administration to ease the burden on taxpayers; improving ease of living and doing business by reducing compliances; empowering micro, small, and medium enterprises (MSMEs), farmers, and cooperatives through better liquidity and simpler regulations; positioning India as a stronger global business hub through clearer taxation and targeted sectoral support; and enhancing trade facilitation by simplifying customs processes and improving efficiency. RESPONDING TO CRITICISM that goods and services tax (GST) rate cuts announced in September 2025 have not yielded results, Sitharaman said she was “shocked” at such observation.