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WINDFALL TAX PETROLEUM EXPORTS
India’s August fuel story: Petrol, diesel up, LPG down sharplyPetrol and diesel sales saw significant year-on-year increases in August. This growth was fueled by greater mobility and a strengthening ec...- Windfall tax slashed on fuel exportsNew Delhi has reduced export duties on petrol, diesel, and aviation fuel. The levy on petrol exports is now ₹1.15 per litre, a significant ...
- Commerce ministry discusses India-US trade performance with exporters, their issues on market accessThe commerce ministry of India is actively soliciting feedback from exporters about challenges in accessing the US market. Minister Piyush ...
- India cuts diesel export levy to Rs 1/litre from Rs 3, windfall tax to Rs 19As of September 1, the Centre has updated the export duties levied on petroleum products. Notably, the export charge on diesel has been red...
- War, weather push crop prices to biggest monthly gain Since 2012Crop prices saw their largest monthly jump in over a decade. Wheat prices reached a three-year high as Black Sea shipments were impacted. S...
- The Americas' oil bonanza will outlast the Iran conflictThe Iran war and closure of the Strait of Hormuz are reshaping global oil trade, with producers across the Americas gaining market share fr...
- South Korea proposes record $597 billion 2027 budget to supercharge AI investmentIn its annual budget proposal, the budget ministry said the spending plan represented a 12.8% rise from 2026, marking the largest year-on...
- New trade rules raise compliance worries for banks over cross-border paymentsAs of October first, banks will bear the new burden of overseeing cross-border payment transactions. They are required to confirm the valid...
- Trump says US inked deal with Venezuela to take control of 65 billion barrels of oil reservesThe United States has reached an agreement with Venezuela concerning oil reserves. This deal involves taking control of sixty-five billion ...
- India's fiscal deficit for April-July at Rs 4.55 lakh crore, narrows to 26.8% of FY27 aimIndia's fiscal deficit reached 4.55 lakh crore rupees through July. This figure represents 26.8% of the annual budget estimates for this ye...
- Commerce ministry meeting industry, exporters on India-US trade on September 1India's Commerce Ministry will meet industry leaders on September 1 regarding trade performance. This meeting precedes Minister Piyush Goya...
- India becomes key petrol supplier to Russia as refinery attacks biteIndia has become a key gasoline supplier to Russia recently. Russian fuel imports surged due to Ukrainian drone attacks on its refineries. ...
- US goods trade deficit widens 17% to $118.8 billion in JulyThe United States merchandise-trade deficit grew substantially in July. This shortfall reached its highest point since early last year. Inb...
- Trump says the US doesn't need Canada. America's economy says otherwiseDespite President Donald Trump’s claim that the United States does not need Canada, both economies remain deeply interdependent. Canadian o...
- Trump's 'Operation Economic Outcast' against Iran also includes four India-based companies over alleged linksThe United States has sanctioned four India-based companies over their alleged involvement in Iran-related petroleum and petrochemical trad...
- US refiners face historic stress test as global crisis loomsUS refineries are running near maximum capacity to fill global fuel shortages caused by the Iran war and disruptions in Russia. While this ...
- Six EU countries urge windfall tax on energy firmsSix EU nations are urging a bloc-wide windfall tax on oil companies. Profits have surged due to the ongoing Middle East war and rising cost...
- South Korea plans chip windfall fund to back youth, AI investmentThe proposed "Future Response Fund" would finance programmes aimed at helping young people find jobs, buy homes and start families, while...
- India cuts windfall tax on exports of petrol, diesel, aviation fuelIndia has reduced windfall taxes on petrol, diesel, and aviation fuel exports. The duty on diesel exports is now 24 rupees per litre, while...
- India raises windfall tax on petrol exports to Rs 3.5/litre, diesel to Rs 24/litre from August 3The government has decided to raise the windfall tax on fuel exports, now charging Rs 3.5 per litre for petrol and a steep Rs 24 per litre ...
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