Centre cuts special additional excise duty on petrol, diesel by ₹10; windfall gain tax reintroduced

Oil Minister Hardeep Singh Puri highlighted the steep global rise in fuel prices, stating that the government chose to absorb the financial burden instead of passing it on to consumers. Experts say the move will help contain inflation and support economic stability. Offering relief to Oil Marketing Companies from under-recoveries due to rising crude oil prices due to the West Asia conflict, the Finance Ministry on Friday reduced the Special Additional Excise Duty (SAED) on petrol and diesel by ₹...