MUMBAI: The government is not looking to impose any new tax on windfall gains that oil and gas producers earned from shooting energy prices, India’s top producer ONGC said on Monday.
Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) reported bumper profits in the March quarter (when international prices soared to a near 14-year high of USD 139 per barrel) and record earnings in 2021-22, triggering talks of the government slapping a windfall tax.
