By Dr Manoranjan Sharma The imposition of the windfall taxes and export duty evoked considerable debates across the development spectrum. The basic justification for the windfall taxes and export duty tax on petrol, diesel and Aviation Turbine Fuel (ATF) hikes imposed on July 1, 2022, stems from the fact that some oil refiners were raking […]
This is for the first time since 1998-99 that consumption of petroleum products have shrunk in the country indicating the extent of economic impact that's the pandemic is having in the country.
ATF or jet fuel cost, which account for for 45%-55% of an airline's operating expenses, in India is among the highest in the world and the industry has long been demanding that it should be brought under GST