In its last review on December 18, the government had sharply cut the windfall profit tax on crude oil produced in the country to Rs 1,300 per tonne from Rs 5,000 earlier. The export duty on diesel was also cut from Re one per litre to 0.50 while that on ATF was hiked from nil to Re one.
In recent developments in the Jet Airways case, the Enforcement Directorate (ED) seized Rs 538 crore worth of properties in an alleged money laundering case linked to Jet Airways (India) Ltd.