India has increased the windfall tax on petrol, diesel and ATF exports, with the revised rates taking effect from August 3, as per an official order.

Indian Oil Corporation (IOC) has raised aviation turbine fuel (ATF) prices for domestic airlines by ₹5 per litre, effective August 1, bringing the cost to ₹115 per litre.

The government has decided to raise the windfall tax on fuel exports, now charging Rs 3.5 per litre for petrol and a steep Rs 24 per litre for diesel. This increase is part of the…