Top Headlines: India ups windfall tax on crude, 6.5% growth likely in FY24

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India raises windfall tax on crude oil, diesel and aviation turbine fuel

India has raised windfall tax on petroleum, crude oil and aviation turbine fuel, according to a government order dated Jan. 2.

It raised windfall tax on crude oil to Rs 2,100 ($25.38) per tonne from Rs 1,700 ($20.55), effective Tuesday, the order said.

The federal government also raised export tax on diesel to Rs 7.5 per litre from Rs 5, while raising the windfall tax on ATF to Rs 4.5 per litre from Rs 1.5, the document showed. Read more

6.5% growth plausible in FY24,