Windfall Tax
Raghuram Rajan suggests windfall tax on Indian oil refiners to shield SMEs from Trump tariffs
Former RBI Governor, Raghuram Rajan, has proposed a windfall tax on oil refiners profiting from discounted crude oil and then redirecting the funds to support India's SMEs, affected by US tariffs.
2 min read30 Aug 2025Mint Quick Edit | Windfall tax is gone but other fuel taxes need reform
India has dropped its windfall tax, relieving the oil sector of a distortive levy. That’s good riddance, but what the economy needs is fuel taxation guided by carbon concerns over revenue rake-ins.
1 min read3 Dec 2024Finance ministry to take call on scrapping windfall tax on domestic crude oil: Tarun Kapoor
Weakening prices of the commodity have made the levy irrelevant, the advisor to the prime minister said.
2 min read23 Oct 2024Czech Utility CEZ Falls Most in Two Weeks as Windfall Tax Stays
Shares in the Czech Republic’s dominant power utility CEZ AS declined the most since the Aug. 5 global selloff as the government signaled it’s no longer considering ending the windfall tax before its original expiration date.
1 min read23 Aug 2024India cuts windfall tax on petroleum crude to ₹5,700 per metric ton from today
There is no change in windfall tax for diesel and aviation turbine fuel (ATF), as per a government notification.
1 min read16 May 2024Govt hikes windfall tax on domestic crude sales to ₹4,900 per tonne
The tax on petrol, diesel, and aviation turbine fuel remains unchanged zero.
1 min read15 Mar 2024Govt increases windfall tax on crude petroleum to ₹3,200/tonne
The windfall tax on petroleum crude has been increased to ₹3,200 per tonne from ₹1,700 per tonne, effective February 3.
2 min read3 Feb 2024Govt cuts windfall profit tax on crude oil and diesel exports
Effective from today, SAED on domestically produced crude oil is cut from ₹5,000/tonne to ₹1,300/tonne. And, SAED on diesel exports has been scaled down from ₹1/litre to ₹0.50/litre.
2 min read19 Dec 2023Oil prices continue uptrend, traders eye Fed meet
Traders would keenly watch the meeting of US Federal Reserve’s Federal Open Market Committee scheduled this week.
2 min read18 Sep 2023Windfall tax on petroleum crude, ATF, diesel retained at zero
The May 16 windfall tax notification had reduced the special additional excise duty on petroleum crude to nil from ₹4,100/tonne.
1 min read17 Jun 2023Wait for it…
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