Customs Duty Review 2027–28 | 118 Imported Products Under Review | 32 Concessions + 86 Exemptions |

Ahead of the Union Budget 2027–28, the Ministry of Finance has initiated a review of Basic Customs Duty (BCD) concessions and unconditional exemptions on imported products. This important development aims to review the existing customs duty structure and simplify India’s import tariff framework.

Current Affairs MCQ:

Question: In early November 2026, ahead of the 2027–28 Union Budget preparations, the Ministry of Finance initiated a review of basic customs duty (BCD) concessions and unconditional exemptions covering how many imported products?

Correct Answer: 118 imported products

Break-up of the Products:

32 products: Customs duty concessions under review.

86 products: Unconditional customs duty exemptions under review.

Total: 118 imported products.

Important Concepts – Basic Customs Duty (BCD):

BCD is a customs duty levied on goods imported into India.

It is governed primarily by the Customs Act, 1962 and the Customs Tariff Act, 1975.

Customs duty concessions and exemptions can influence the cost of imports, domestic industries and government revenue.

The Union Budget is an important instrument for announcing changes in customs duties and exemptions.

Why Is This Important?

The review is relevant to India’s import policy, domestic manufacturing, tariff rationalisation and revenue collection. It is an important economy and budget-related current affairs topic.

Exam Relevance: UPSC, SSC, Banking, RBI, Insurance, Railway, State PSC and other competitive examinations.

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