India cuts windfall tax on crude oil output, diesel exports

India on Thursday cut the windfall tax on crude oil to 4,900 rupees ($60.34) per tonne, according to a government order.

It also cut the export tax on diesel to 8 rupees per litre. Changes to the windfall tax will be effective from Friday, the order said.

($1 = 81.2050 Indian rupees)

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