- The central government reduced the export duty on petrol to nil. - The export duty on diesel was raised by ₹3 per litre. - These adjustments are part of the fortnightly review of windfall profit taxes levied on domestic crude oil and petroleum product exports. - Changes in export duties and special additional excise duty (SAED) reflect international crude oil price fluctuations and domestic refiners' profit margins. - **Windfall Tax:** A tax levied by governments on sudden, unexpected profits earned by specific companies or sectors, typically driven by extraordinary external market events like geopolitical conflicts or supply shocks. - **Ministry of Finance:** A key ministry of the central government responsible for formulating and administering economic, fiscal, taxation, and financial policies, including the Union Budget and macroeconomic management. **Introduction** The Indian government cut the export duty on petrol to nil while increasing the levy on diesel by ₹3 a litre as part of its fortnightly revision of windfall profit taxes on domestic crude oil and petroleum product exports. **Core Issue and Detailed Points** - The central government reduced the export duty on petrol to nil. - The export duty on diesel was raised by ₹3 per litre. - These adjustments are part of the fortnightly review of windfall profit taxes levied on domestic crude oil and petroleum product exports. - Changes in export duties and special additional excise duty (SAED) reflect international crude oil price fluctuations and domestic refiners' profit margins. **Key Statutory Bodies, Acts & Concepts** - **Windfall Tax:** A tax levied by governments on sudden, unexpected profits earned by specific companies or sectors, typically driven by extraordinary external market events like geopolitical conflicts or supply shocks. - **Ministry of Finance:** A key ministry of the central government responsible for formulating and administering economic, fiscal, taxation, and financial policies, including the Union Budget and macroeconomic management.