Business Standard

Centre garners Rs 3,000 crore from windfall tax on oil and gas firms

It is likely to continue with the levy till the Indian basket of crude is above $80 a barrel

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Arup Roychoudhury New Delhi
The Centre has garnered around Rs 2,500-3,000 crore in the first five weeks after it imposed a windfall tax on oil and gas companies for the export of fuel, Business Standard has learnt. It is likely that the government will continue with the one-time tax till the Indian crude basket is above $80 a barrel, sources said.

The next review of the windfall tax on oil companies is early next week. The average price of the Indian crude basket has averaged $98.29 a barrel so far in August.

“Till the first week of August, we have got about Rs 2,500-3,000

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