Because of the softening of crude oil prices in the global markets, the central government has cut the windfall tax imposed on the export of petroleum products from the country. It is believed that companies like Reliance India Limited and ONGC will get big benefits from this move of the government. Let us tell you that about three weeks ago, the government increased this windfall tax to ensure the supply of petroleum products in the country. Now after the decrease in the prices of crude oil in the global market, the government has withdrawn its old decision.
Let us tell you that the government imposed a windfall tax of Rs 6 per liter on the export of petrol and ATF (aircraft fuel) three weeks ago. During that time a duty of Rs 13 per liter was also levied on the export of diesel. Apart from this, by issuing a separate notification, the government had informed about imposing an additional tax of Rs 23,230 per tonne on crude oil.
Windfall tax on petrol completely removed
Now the government has issued a fresh notification reducing the windfall tax on ATF (aircraft fuel) from Rs 6 per liter to Rs 4 per liter. At the same time, the windfall tax of Rs 6 per liter on petrol has been completely removed. The tax on the export of diesel has also been reduced from Rs 13 per liter to Rs 11 per liter. At the same time, the additional tax on crude oil has been reduced from Rs 23250 per tonne to Rs 17000 per tonne.
Reliance and ONCG shares shine
Shares of companies like Reliance and ONGC have seen a rise due to the government's decision to reduce the windfall tax imposed on the export of petroleum products. On Wednesday, shares of Reliance Company opened at Rs 2535 per share with a jump of about two and a half percent in the stock market, while ONGC shares have also seen a rise of up to seven percent. On Wednesday, ONGC shares opened at Rs 134.70 in the stock market.
Also Read: RBI Report: More interest may be available on deposits in the coming time
Modi 3.0: Vaishnav again took charge of the Railway Ministry, and said- the PM's focus is on railways because it is the common man's ride
After taking oath as Prime Minister for the third time, Narendra Modi distributed the departments of his ministers on Monday evening. Modi has refrained from any major changes in the cabinet, trusting
T20 World Cup: 'It is difficult to find a player like Warner', this former captain praised the Australian batsman
Australia's legendary opener David Warner's international cricket career is now over. With Afghanistan's victory against Bangladesh, Warner's 15-year international career also came to an end. Due to
North Korea successfully test-fired two cruise missiles: Target made 2000 km away, claims - capable of nuclear attack
North Korea successfully test-fires two long-range strategic cruise missiles. It is claimed that both these missiles are also capable of carrying out nuclear attacks. According to media reports, both
Good news: India's services sector output rises to a record high in November, reaching a three-month high
India's services sector output growth accelerated to a three-month high in November as trade flows picked up significantly amid favorable demand conditions, a monthly survey said on Monday. This
MUDRA: 'Nothing is impossible for the people of India', PM Modi spoke to the beneficiaries of Mudra Yojana at his residence
On the occasion of the completion of 10 years of Mudra Yojana, Prime Minister Narendra Modi interacted with the beneficiaries. PM Modi wrote on 'X', 'I had invited Mudra beneficiaries from all over
‘Those who erased Sindoor had to lose their families…’, CM Yogi called Operation Sindoor a revenge for sisters and daughters.
As per the pre-announced program of emergency warning system and rescue and relief operations, mock drill and black out were conducted across the state on Wednesday.
If Hindu society unites then they will not survive... BJP leader's threat on Shivamogga tension
Accusing "some Muslim goons" of communal tension in Karnataka's Shivamogga, senior BJP leader KS Eshwarappa on Tuesday warned them not to underestimate Hindu society and that if the entire community
Health workers on strike, dying without treatment: UK hospitals worse than Ukraine, 500 deaths per week
Britain's healthcare system has come to a complete standstill. Patients are dying on hospital floors, in corridors, in stuck ambulances, and elsewhere as health workers strike and services stop.
PM's letter to Kovind: 'It's a privilege to work with you, PM's letter touched Kovind's heart
Prime Minister Narendra Modi has written a letter praising former President Ram Nath Kovind. PM Modi wrote in the letter that during your tenure as the President of India, you have set the highest
Indonesia: Terrible explosion in Indonesia's Mount Semeru volcano, shadow smoke all around
Mount Semeru, the highest volcano in Indonesia, suddenly erupted on 4 December 2022. Due to the eruption of the volcano, the river of lava is not taking the name of stopping. Clouds of hot ash and gas
