India developing as key aviation market: IATA
Global air connectivity at 79% of pre-pandemic level, showing a steady improvement despite a slowdown in 2022, says global aviation body
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July 2022
Govt scraps windfall tax on domestic crude, hikes export duty on diesel
The government has hiked the export duty on diesel to ₹0.50 per litre from ₹1 per litre.
Centre cuts windfall tax on crude oil to ₹3,500/tonne; export duty on diesel hiked
According to a notification by the Ministry of Petroleum and Natural Gas, the export duty on diesel has been hiked to ₹1 per litre from ₹0.50 per litre.
LPG prices hiked by ₹50; here’s how oil, gas stocks reacted
With this, the commercial LPG cylinders will now cost ₹2,119.50 per unit and the domestic LPG cylinders will now cost ₹1,103 per unit in Delhi.
Govt slashes windfall tax on domestic crude oil, exports of diesel; here’s how oil stocks reacted
On July 1 this year, the Indian government joined a group of nations that imposed a windfall tax on crude oil owing to soaring energy prices.
Govt slashes windfall taxes on diesel, jet fuel; oil stocks surge
In the sixth round of revision, the windfall tax on domestic crude oil has been slashed by 24% to ₹8,000 per tonne from ₹10,500.
SpiceJet sends 80 pilots on leave without pay for 3 months
Decision taken to “rationalise” cost as a prolonged grounding of the MAX fleet has led to excess pilots, says SpiceJet.
High ATF prices, weak rupee to drag aviation revival; outlook negative
Elevated ATF prices will impact earnings and liquidity profile of the airlines in the near to medium term, while weaker rupee to dollar will raise input costs.
Windfall tax on petroleum crude hiked; diesel, ATF export levy slashed
Amid the announcement, shares of three out of four oil producers and refiners are down. RIL stock is up 0.16%, while ONGC, GAIL, IOC are down by 1.39%, 1.77%, and 0.28%, respectively
Govt to earn ₹95,129 cr from windfall gain taxes on fuel: Moody’s
Centre has imposed special additional excise duty of ₹6/litre on petrol export and ₹13/litre on diesel export. Special additional excise duty of ₹6 per litre was also imposed on ATF export too
