Windfall tax to cut RIL & ONGC profits, govt will earn ₹94,800cr : Moody's | Mint - Mint

After levying a windfall tax on oil firms government is expected to generate ₹94,800 crore or $ 12 billion, whereas both oil-producing firms ONGC and Reliance will see drop in profits, according to Moody's Investors Service

The windfall taxes on domestic crude oil production and fuel exports will generate close to USD 12 billion ( 94,800 crore) for the government in the remainder of the current fiscal while trimming pro… [+3690 chars]

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