{"id":523571,"date":"2022-09-21T09:40:41","date_gmt":"2022-09-21T04:10:41","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=523571"},"modified":"2022-09-21T10:54:47","modified_gmt":"2022-09-21T05:24:47","slug":"oil-ministry-says-windfall-profit-tax-response-to-dynamic-situation","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/oil-ministry-says-windfall-profit-tax-response-to-dynamic-situation\/","title":{"rendered":"Oil ministry says windfall profit tax response to dynamic situation"},"content":{"rendered":"<p>The oil ministry on Tuesday said the levy of windfall profit tax was a response to a dynamic situation and its design provides for recalibration based on market inputs and feedback.<\/p>\n<p>&#8220;Crude oil prices have witnessed extreme volatility in 2022. This has resulted in very high prices for end consumers at petrol pumps.<\/p>\n<p>&#8220;Countries around the world have implemented various measures to mitigate the adverse impacts on consumers. &#8216;Windfall tax&#8217; is one of the measures which helps in dealing with the situation,&#8221; the ministry said in a statement.<\/p>\n<p>India first imposed windfall profit tax on July 1, joining a growing number of nations that tax super normal profits of energy companies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The oil ministry on Tuesday said the levy of windfall profit tax was a response to a dynamic situation and its design provides for recalibration based on market inputs and feedback. &#8220;Crude oil prices have witnessed extreme volatility in 2022. This has resulted in very high prices for end consumers at petrol pumps. &#8220;Countries around the world have implemented various measures to mitigate the adverse impacts on consumers. &#8216;Windfall tax&#8217; is one of the measures which helps in dealing with the situation,&#8221; the ministry said in a statement. India first imposed windfall profit tax on July 1, joining a growing [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-523571","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/523571","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=523571"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/523571\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=523571"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=523571"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=523571"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}