India Reduces Windfall Tax on Petroleum Crude

18 Jun 2024 CW Team

India has taken steps to alleviate the financial burden on oil producers by reducing the windfall tax imposed on petroleum crude. This decision aims to stabilise the energy sector amidst fluctuating global crude oil prices and ensure continued affordability for domestic consumers and industries reliant on petroleum products.

The adjustment in the windfall tax rate is a strategic move by the Indian government to balance revenue generation with the economic well-being of the nation. By easing the tax burden on crude oil production, India seeks to incentivize domestic production and maintain a steady supply of essential energy commodities.

The reduction in the windfall tax underscores India's proactive approach in managing its energy economy, especially in light of ongoing global economic uncertainties. It reflects the government's commitment to fostering a conducive environment for energy investments while safeguarding against price volatility in international oil markets.

India, as a significant importer of crude oil, is particularly sensitive to fluctuations in global oil prices, which directly impact its economic stability and inflation rates. The revised tax policy aims to mitigate these effects, supporting the resilience of India's energy infrastructure and overall economic growth.

This initiative is part of broader efforts to strengthen India's energy security and enhance its position in the global energy landscape. By adjusting tax policies in response to market dynamics, India aims to sustain a robust and sustainable energy sector that meets the needs of its growing economy and population.

Infrastructure Urban

09 Feb 2026

Eicher Delivers First 13.5 m Electric Intercity Sleeper Bus

Eicher Trucks & Buses, a business unit of VE Commercial Vehicles Ltd., has recently delivered its first 13.5 m electric intercity sleeper bus, marking a key milestone in India’s long-distance electric mobility segment. The first bus is being operated by LeafyBus, with plans to deploy 35 buses by March 2026 across high-demand intercity corridors in North India.The initial deployment will cover routes such as Delhi–Dehradun and Delhi–Lucknow, supporting LeafyBus’ expansion across environmentally sensitive and high-density travel corridors.Commenting on the partnership, Suresh Chettia..

HCSS Showcases Unified Construction Platform at CONEXPO 2026

HCSS will recently present the next evolution of its connected construction management platform at CONEXPO-CON/AGG 2026, bringing together construction workflows, data and teams on a single platform across the entire project lifecycle. The event will be held from 3–7 March 2026 in Las Vegas, Nevada. HCSS will host two booths at the show, demonstrating how its integrated software ecosystem enables seamless collaboration between the office, field and shop, from bid stage through to project closeout. Steve McGough, President and CEO, HCSS, said, “For 40 years, we’ve done everything within..

Berger Paints Q3 Profit Declines Despite Volume Growth

Berger Paints India has reported a mixed performance for the quarter ended 31 December 2025, with healthy volume growth and margin improvement offset by softer demand conditions and cost pressures. On a consolidated basis, revenue from operations for the quarter stood at Rs 29,840 million, compared to Rs 29,751 million in the corresponding quarter last year, reflecting a marginal increase of 0.3 per cent. EBITDA (excluding other income) was Rs 4,710 million, slightly lower than Rs 4,717 million a year earlier. Net profit declined by 8.3 per cent to Rs 2,713 million from Rs 2,960 million. Sta..