What is windfall tax & why has India levied it on oil companies?

The Centre announced a series of steps to tax windfall gains that oil companies have made recently with the rise in global crude oil prices. Some of these steps include raising exports duty on diesel at Rs 13 a litre and on petrol at Rs 6 a litre. In this video, ThePrint’s Shubham Batra explains what is windfall tax and why has the Centre levied it.
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