Indian Government Increases Windfall Tax on Petroleum Crude to Rs 9,600 Per Tonne

The Indian government has increased the windfall tax on petroleum crude from Rs 6,800 to Rs 9,600 per metric ton, effective April 16. This decision comes as part of the government's fortnightly tax revision, aimed at regulating the export of fuel by private refiners. While diesel and aviation turbine fuel remain exempt from the windfall tax, the recent adjustments signify efforts to balance domestic market supply and curb excessive exports.