Mon Dec 02 09:59:33 UTC 2024: ## India Scraps Windfall Tax on Fuel Exports
**New Delhi, [Date of Publication]** – The Indian government announced the immediate removal of the windfall tax on exported petrol, diesel, and aviation turbine fuel (ATF). The decision, reached after two months of deliberation, is expected to significantly benefit domestic oil producers like ONGC and Reliance Industries, boosting their profit margins. The government also eliminated the Road and Infrastructure Cess (RIC) on petrol and diesel exports, further easing the burden on the oil sector. This move follows recent increases in jet fuel prices, which are expected to impact air travel costs.
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