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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