Q. The government has recently abolished the windfall tax on which products?
Answer: Petrol, diesel, aviation fuel, and crude oil
Notes: The government has abolished windfall tax on crude oil, aviation turbine fuel (ATF), petrol, and diesel exports. Windfall tax targets industries earning unusually high profits due to favorable economic conditions. India introduced a windfall tax on domestic crude oil production in July 2022 after global crude prices surged. Such taxes are used to fund public projects, reduce deficits, or redistribute wealth.