India’s Oil Ministry Wants Windfall Tax on Petroleum Products Abolished

The Indian Oil Ministry has asked the country’s Finance Ministry to consider scrapping the windfall tax on petroleum products due to falling crude oil prices, India’s broadcaster ET Now reported exclusively on Monday, quoting sources. The oil ministry has requested immediate withdrawal of the windfall tax on petroleum products in India, due to the recent slide in crude oil prices and the oil ministry’s expectation that oil prices are set to go further down, ET Now reported. The oil ministry has sent a number of presentations to…