India has cut the windfall tax on petroleum crude to 5,700 rupees ($68.34) per metric ton from 8,400 rupees with effect from May 16, according to a notification issued on Wednesday.
The tax, which is revised every two weeks, remains unchanged at zero for diesel and aviation turbine fuel.
The government on May 1 cut the windfall tax on petroleum crude to 8,400 rupees a metric ton from 9,600 rupees.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
-
-
World-Class Chefs, Food And Music: The Fun Side Of NDTV World Summit 2026 -
AI, Consciousness And Dharma: Why Ancient Indian Wisdom Matters Now -
NDTV World Summit: What To Expect From PM Modi's Keynote Address -
NDTV World Summit 2026: What To Watch Out For | PM Modi, Jaishankar, AI And Global Power Shifts -
A World Between Orders: What To Expect At NDTV World Summit 2026 -
Who Is Rajiv Mehta? Lilavati Hospital Trustee To Speak At NDTV World Summit 2026 -
Alain Ebobisse, Africa50 CEO, To Attend NDTV World Summit 2026. All About Him -
Kriti Sanon At NDTV World Summit: A Look At Her Career And Business Ventures -
Ex-CIA Director To Decode 'War In Times Of AI' At NDTV World Summit -
Who Is Vikram Rai, CEO, South Asia GE Aerospace, Set To Attend The NDTV World Summit 2026
India started the tax on crude oil producers and on exports of gasoline, diesel and aviation fuel in July 2022 to regulate private refiners who wanted to sell fuel overseas instead of locally in a bid to gain from robust refining margins.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
Track Latest News Live on NDTV.com and get news updates from India and around the world
