Windfall tax on crude up 165% as oil nears $85/barrel

The Centre raised windfall gains tax on domestic crude by 165% from Rs 1,600 to Rs 4,250 per tonne from August 1 to suck out some of the benefits accruing to producers such as ONGC and Oil India Ltd from global oil prices shooting past the $80 per barrel mark in the last fortnight.

Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News