Finance Minister’s support for Windfall Tax

New Delhi: The indirect tax on petroleum products and crude oil is not excessive, this tax has been imposed after regular consultation with the industry, Finance Minister Nirmala Sitharaman said on Monday. The Finance Minister said it is not right to call the windfall tax an ad hoc or unfair tax.

The windfall tax proposal was discussed with the petroleum industry. They were informed that the tax rate would be revised once in fifteen days. Accordingly, the government is fixing the tax.