Govt cuts windfall tax on crude petroleum
New Delhi (PTI): The government has cut windfall tax on domestically produced crude oil to Rs 8,400 per tonne from Rs 9,600 per tonne with effect from Wednesday.
The tax is levied in the form of Special Additional Excise Duty (SAED).
The SAED on the export of diesel, petrol and jet fuel or ATF, has been retained at nil. The new rates are effective from May 1, an official notification said.
India first imposed windfall profit taxes on July 1, 2022, joining a host of nations that tax supernormal profits of energy companies.
The tax rates are reviewed every fortnight based on average oil prices in the previous two weeks.
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Elephant attacks man riding his children to school in Belthangady
Belthangady: In a shocking incident, a wild elephant attacked a man and his two children while they were on their way to school on a bike in Shishila village on Wednesday morning. The attack left the trio injured and their bike completely destroyed.
The victim, Vasantha Gowda, a resident of Kallaje in Shishila, was riding his bike to drop his children, Lavya and Advith, at Perla School in Shibaje village. The incident occurred around 8:30 AM when a lone elephant suddenly emerged on a curve in the road.
Startled by the sudden appearance of the animal, Vasantha Gowda braked abruptly, causing the bike to topple. All three fell to the ground, sustaining injuries to their arms and legs. As the elephant advanced, they managed to escape the scene, leaving their bike behind.
The elephant then approached the fallen bike, smashed it with its trunk, and completely crushed it underfoot.
The attack has heightened concerns among residents of Belthangady taluk, where incidents of human-elephant conflict have been rising. Locals have called on the Forest Department to take measures to prevent such encounters and ensure the safety of residents.
