As per Nirpendra Yadav, Senior Commodity Research Analyst at Swastika Investmart, the windfall tax was imposed on account of the supernormal profits earned by energy companies because of lower crude prices. However, the recent rise in crude prices on account of the Israel-Hamas conflict led to the Government cutting down on windfall tax. Reduction in windfall tax may help to maintain the margins which were affected on account of rising crude prices.Read more at:
