Hindustan Times Leadership Summit 2025: Customs is my next big cleanup assignment, says FM Sitharaman — 5 key takeaways

Finance Minister Nirmala Sitharaman on Saturday said at the Hindustan Times Leadership Summit 2025 that a customs cleanup was her next big assignment for India.

Her comments came ahead of Budget 2026, which is scheduled to be presented by the FM in February next year.

The Finance Minister was in a conversation with editor-in-chief at Hindustan Times, R Sukumar, at the 23rd edition of the HTLS, where she answered what's coming next for India, as well as shared her opinion on the falling rupee and freebies given away by states ahead of elections.

Customs cleanup coming soon, says FM Sitharaman

Speaking at the HTLS 2025 ahead of Budget 2026, FM Nirmala Sitharaman said that an overhaul of customs sale is on the cards. “'Customs is my next big cleaning up assignment,” she said ahead of the Budget.

FM interview: Concerned about budget, says FM on freebies

Speaking about freebies during election promises, Sitharaman said, “Some states borrow, high cost loans, to dole out freebies. We are talking to state ministries on how they can restructure loans to manage.”

She said that she was concerned about the fact that the budget of these states will not be able to afford the freebies, adding that the Centre was speaking with them about any help on restricting debt.

Asked if freebies have become a political compulsion, Sitharaman said that politics is competitive.

On December 3, the rupee touched a fresh all-time low of 90.43.

Rupee will find its natural level, says Nirmala Sitharaman

Speaking to R Sukumar, Nirmala Sitharaman said that the rupee, which has been going through a steady fall, will find its natural level. She acknowledged that when BJP was in the opposition, it had raised the issue of the falling rupee then.

Look at the economy now: FM on falling rupee

Defending the fall of the rupee, FM Sitharaman said that when the BJP was in opposition and the rupee was falling, the situation was worse because of India's economy.

“Rupee, currency, exchange rates are rather too sensitive. I am not escaping the comments. We raised it as an opposition much better because the situation at that time in the economy was absolutely pathetic. Inflation rate was so high, the economy was fragile, and the currency also took a hit”.

However, she said that now the fundamentals of the economic situation in India has improved.

“Look at the fundamentals of the economy, where we stand, some factors are very important which position India in a very different ledge… this currency debate will have to be circumscribed by those realities,” Nirmala Sitharaman said.

FM interview: Sitharaman lists hurdles govt has overcome

Speaking at the HTLS 2025, the FM listed out the challenges the government has overcome have overcome as a country over the years

• Growth after Covid
• Impact of wars like on foodgrains and more as “we have had trouble with our borders”
• Spending on the one year of election
• Restoration of Jammu and Kashmir banks as well as the region's economy after the Pahalgam terror attack.

HTLS 2025: Who are the speakers today?

The speakers at the Hindustan Times Leadership Summit 2025 on 6 December include Prime Minister Narendra Modi, Finance Minister Nirmala Sitharaman, CJI Justice Surya Kant, EAM S. Jaishankar, Bharti Airter Chairman Sunil Bharti Mittal, J&K chief minister Omar Abdullah, Indian women's cricket team coach Amol Muzumdar, cricketer Deepti Sharma, UP CM Yogi Adityanath, Delhi CM Rekha Gupta, Prof. James K. Galbraith, Michael Kugelman, Kate Sullivan de Estrada, Google DeepMind executive Pushmeet Kohli, and actors Aamir Khan Hugh Grant.

Hindustan Times Leadership Summit 2025: What is the theme this year?

The Hindustan Times Leadership Summit 2025 is underway, with the biggest event of Hindustan Times Group. The theme; “Transforming Tomorrow”, captures the spirit of innovation, resilience, and reinvention defining our era.