New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Why did the Indian government scrap the windfall tax on

    domestic crude oil and fuel exports?
    A To encourage oil production in India Correct Answer Incorrect Answer
    B Due to a rise in global oil prices Correct Answer Incorrect Answer
    C Due to a decline in international oil prices Correct Answer Incorrect Answer
    D To support Indian oil companies Correct Answer Incorrect Answer
    E To improve trade balances Correct Answer Incorrect Answer

    Solution

    The government removed the windfall tax on crude oil and fuel exports as international oil prices declined, reducing the need for additional revenue measures.

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