Windfall tax removed on domestically-produced crude oil, halved on diesel exports; here are key takeaways
Windfall tax cut: The windfall tax of Rs 3,500 per tonne on domestically-produced crude oil has been removed, effective immediately. The Centre has halved the levy on diesel to Re 0.5 per litre from Re 1 per litre.
The government had earlier imposed a windfall tax on domestically-produced crude oil, and on exports of petrol, diesel and jet fuel. | Image: Reuters