India Hikes Windfall Taxes on Diesel and Aviation Fuel Exports

India has raised windfall taxes on diesel exports to 14 rupees per litre and on aviation fuel to 12.5 rupees per litre, effective from June 16. The export duty on petrol will remain unchanged as per the government's latest statement.

India has announced an increase in windfall taxes on the export of diesel and aviation fuel. Starting June 16, the export duty on diesel will rise to 14 rupees per litre, while the duty on aviation fuel will increase to 12.5 rupees per litre.

The decision was made in the context of changing market dynamics, with the Indian government releasing a statement on Monday to affirm the new tax rates.

The export duty on petrol is set to remain unchanged, maintaining the focus on adjusting taxes based on current economic scenarios.