business 📈 India tweaks export taxes on fuel, cuts jet fuel levy
The Indian government increased windfall taxes on petrol and diesel exports while reducing the levy on jet fuel. This decision by the Union finance ministry was made on Tuesday, reflecting crude oil price volatility. The tax on diesel exports is now ₹25 per litre, and the ATF export duty stands at ₹19 per litre for the next fortnight. These special excise duties aim to stabilize domestic supply and capture supernormal profits from petroleum companies. The rates are reviewed every fortnight based on international crude oil prices. ⛽