Central Govt slashes Windfall Tax on Domestically Produced Crude Oil to Rs 2,100 per tonne

The Central Government has reduced the windfall tax on domestically produced crude oil to Rs. 2,100 per tonne, down from a higher rate imposed earlier. The tax cut is part of the government's ongoing adjustments to the windfall tax regime, which aims to balance revenue collection with the financial viability of oil producers. The reduction is expected to ease the financial burden on domestic oil producers and encourage continued investment in the sector. The move reflects the government's responsiveness to changes in the global oil market and its impact on domestic production.