Oil ministry seeks Rs 33,000 crore extra for FY19 subsidy


Oil ministry seeks Rs 33,000 crore extra for FY19 subsidy

The ministry of petroleum and natural gas has written to the finance ministry, seeking an additional Rs 33,000 crore over and above the Rs24,833-crore petroleum subsidy allocated as revised estimate for 2018-19.

The extra demand is primarily because the government did not clear subsidy payments worth Rs33,900 crore for liquefied petroleum gas (LPG) and kerosene in 2018-19, which affected the net profits of oil marketing companies and increased their debt.

“The additional amount has been asked to meet the outstanding from the previous year,” a source said. Read  More

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