India cuts windfall tax on export of petrol, diesel, aviation fuel

India has cut windfall taxes on the export of petrol, diesel and aviation fuel. The move aims to ease the tax burden on domestic oil refiners and improve their competitiveness in international markets.

Windfall taxes are levied on excess profits earned by companies during periods of exceptional commodity price spikes. The reduction reflects adjustments in global crude oil price dynamics and India's policy approach to support the refining sector.