Windfall tax has no relevance, govt may scrap it: PM's advisor

The government is evaluating if windfall tax should be removed on crude oil, said Tarun Kapoor, advisor to the Prime Minister. "Finance ministry will take a view...Petroleum ministry has already written to them," Kapoor said on Wednesday. Windfall tax has no relevance now as global oil prices have softened since 2022, when the tax was first levied.