India Cuts Windfall Tax on Petrol Exports to Zero

Exam-focused facts from the 16 August 2026 current affairs briefing.

Key facts

The Government of India has reduced the windfall tax on diesel exports to ₹24 per litre from ₹25.5 per litre.
The levy on aviation turbine fuel (ATF) exports has been cut to ₹19.5 per litre from ₹22 per litre.
The export duty on petrol has been set at zero, down from ₹3.5 per litre.
The revised rates are effective from August 15, 2026.
The government reviews these export levies every fortnight based on global oil prices.
The latest revision does not change excise duty on petrol or diesel for domestic consumers, so pump prices remain unaffected.