India to Drop Windfall Tax if Oil Prices Fall $40 a Barrel, Says Revenue Secretary Tarun Bajaj

[BabU]

India to Drop Windfall Tax if Oil Prices Fall $40 a Barrel, Says Revenue Secretary Tarun Bajaj India will only withdraw its windfall tax introduced last week for oil producers and refiners if global prices of crude fall as much as $40 a barrel from present levels, Revenue Secretary Tarun Bajaj said on Monday.