India cuts windfall tax on petroleum crude: notification

Oil tankers are seen parked at a yard outside a fuel depot on the outskirts of Kolkata February 3, 2015. REUTERS

India has cut windfall tax on petroleum crude to 1,700 rupees ($20.53) a tonne from 2,300 rupees a tonne, according to a government notification on Monday.
The cut will be effective from Jan 16, the order said.