The Indian authorities has hiked windfall tax on petroleum crude to 4,250 Indian rupees ($51.68) per tonne from 1,600 Indian rupees with impact from August 1.
A windfall tax on diesel has been elevated to 1 rupee per litre from nil earlier, in accordance with a authorities notification on Monday.
For all latest news, follow The My News’s Google News channel. The windfall tax on petrol and aviation turbine gas has been left unchanged.
Earlier this month, the federal government raised the windfall tax on petroleum crude to 1,600 Indian rupees per tonne from zero.
India final July imposed the windfall tax on crude oil producers and prolonged the levy on exports of gasoline, diesel and aviation gas after non-public refiners wished to make good points from sturdy refining margins in abroad markets, as a substitute of promoting at house.
($1 = 82.2380 Indian rupees)
