Windfall Tax on Crude Petroleum Slashed to Zero in India What is a Windfall Tax and When is it Imposed? A windfall tax is a levy imposed on companies experiencing a sudden and significant surge in profits due to unforeseen circumstances. It serves a dual purpose: redistributing wealth and generating additional government revenue. Indian Government…
India Makes First-Ever Rupee Payment for the Purchase of Crude Oil from UAE India recently achieved a significant milestone by making its inaugural payment in rupees for the procurement of crude oil from the United Arab Emirates (UAE). This landmark transaction signifies a paradigm shift in the country’s approach to oil purchases and economic strategies….
Crude Oil Dips Below $78 a Barrel – Industry Data Reveals Crude oil prices have taken a significant downturn, dipping below the $78 mark per barrel, according to the latest industry data. This substantial drop has sparked discussions and market analysis, impacting various sectors globally. The fluctuations in crude oil prices have always been a…
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