No windfall tax on oil companies after new law: Hardeep Singh Puri
The new Oilfields (Regulation and Development) Bill, 2024, prevents new taxes on oil and gas firms, including windfall profits tax, and ensures fiscal stability to attract investment in India's energy sector. It aims to boost domestic production, reduce import dependence, and modernize regulations to facilitate easier exploration and development of hydrocarbon resources.
The new Oilfields (Regulation and Development) Bill, 2024, prevents new taxes on oil and gas firms, including windfall profits tax, and ensures fiscal stability to attract investment in India's energy sector. It aims to boost domestic production, reduce import dependence, and modernize regulations to facilitate easier exploration and development of hydrocarbon resources.
