Dividend cut from oil firms unlikely; disinvestment target to be met: Finance ministry


Dividend cut from oil firms unlikely; disinvestment target to be met: Finance ministry

The finance ministry on Tuesday said it does not expect a cut in dividend from oil marketing companies despite these retailers absorbing Rs 1 per litre from last week.

Economic Affairs Secretary in a tweet said there is no plan for reduction in subsidy and disinvestment target will also be met.

He was reacting to reports of reduction of dividend from oil marketing companies, subsidies cut, lesser disinvestment revenue etc during this fiscal from the Budget estimates.

“…This is completely fabricated. Nothing of this is true at all,” he tweeted. As far as disinvestment is concerned, the government has set an ambitious target of Rs 80,000 crore for the current financial year.  Read More

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