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.

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..