India Cuts Windfall Tax on Petrol, Diesel and ATF Exports
Listen to the story
The Indian government has cut a special tax on fuel exports.
This tax is called the windfall tax.
The tax on petrol exports is now zero.
The tax on diesel exports is now 1.5 rupees less.
The tax on ATF is now 2.50 rupees less.
ATF means aviation turbine fuel. Planes use this fuel.
The new rates start today.
This tax is on companies that export fuel.
Export means selling goods to other countries.
The government changed the rates to help oil companies.
Oil companies make and sell petrol, diesel, and ATF.
This news is about business and money.
It can change fuel prices in the future.
The government checks these tax rates often.
This is an official government decision.
Vocabulary15 words
- windfall tax
- extra tax on big, unexpected profit
- petrol
- fuel used in cars
- diesel
- another type of fuel for cars and trucks
- ATF
- fuel used by airplanes
- aviation turbine fuel
- the full name for airplane fuel
- export
- to sell things to other countries
- official
- made by the government
- rate
- the amount of tax or price
- relief
- when something becomes easier or less
- government
- the group that runs the country
- tax
- money people pay to the government
- company
- a business that makes or sells things
- fuel
- something burned to make power, like petrol
- price
- how much something costs
- effective
- starting to work now
Quiz
Answer key
1. Zero 2. Planes 3. True
Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
The Indian government has cut a special tax on fuel _____.
This tax is called the windfall _____.
The tax on petrol exports is now _____.
The tax on diesel exports is now 1.5 rupees _____.
The tax on ATF is now 2.50 rupees _____.
ATF means aviation turbine _____. Planes use this fuel.
The new rates start _____.
This tax is on companies that _____ fuel.
The government changed the rates to help oil _____.
This is an official government _____.