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India Raises Windfall Tax on Petrol and Diesel Exports Amid Iran Conflict

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The Indian government has increased the windfall gains tax on the export of petrol and diesel. The export duty on petrol has been revised upward to Rs 3.5 per litre, compared to the earlier rate of Rs 2.5 per litre. The hike comes amid escalating tensions involving Iran, which has unsettled global energy markets. Such windfall taxes are typically imposed to limit excess profits made by energy companies during periods of volatile crude oil prices.

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