Business News

In a move aimed at regulating the petroleum sector, the Indian government on Monday announced an increase in the windfall tax on petroleum crude. Effective from April 16, the tax rate has been raised to 9,600 rupees ($114.99) per metric ton, up from the previous rate of 6,800 rupees, reported Reuters.This revision, which occurs every fortnight, maintains the windfall tax at zero for diesel and aviation turbine fuel, providing some relief in those sectors.The government had previously raised the windfall tax on petroleum crude to 6,800 rupees per metric ton from 4,900 rupees on April 4.India started the tax on crude oil producers and on exports of gasoline, diesel and aviation fuel in July 2022 to regulate private refiners who wanted to sell fuel overseas instead of locally in a bid to gain from robust refining margins.(With inputs from Reuters)

The Sunrisers Hyderabad on Monday broke their own record of posting the highest total in the history of the Indian Premiere League in this very season, making history yet again. The team in Orange posted 287 against the Royal Challengers Bengaluru, breaking their record of 277 runs against the Mumbai Indians. Royal Challengers Bengaluru skipper Faf du Plessis won the toss and elected to bowl in the Indian Premier League match against Sunrisers Hyderabad here on Monday. Hard-hitting batter Glenn Maxwell and Mohammed Siraj, who have had below-par showings this season, are not part of the RCB playing XI, while right-arm pacer Lockie Ferusion has been included in the side.SRH skipper Pat Cummins will go into the contest with an unchanged side.Teams:Royal Challengers Bengaluru: Virat Kohli, Faf du Plessis (c), Will Jacks, Rajat Patidar, Saurav Chauhan, Dinesh Karthik (wk), Mahipal Lomror, Vijaykumar Vyshak, Reece Topley, Lockie Ferguson, Yash Dayal.Sunrisers Hyderabad: Travis Head, Abhishek Sharma, Aiden Markram, Nitish Reddy, Heinrich Klaasen (wk), Abdul Samad, Shahbaz Ahmed, Pat Cummins (c), Bhuvneshwar Kumar, Jaydev Unadkat, T Natarajan.(More to come)