Indian Oil will get cash payment for Q1 subsidy on Sept 17
Aug 26 2013
Fuel retailers Indian Oil Corp, Hindustan Petroleum Corp (HPCL.NS) and Bharat Petroleum Corp (BPCL.NS) sell diesel, kerosene and cooking gas at subsidised rates to protect the poor and tame inflation.
The retailers will get 80 billion rupees as partial compensation for the revenue losses suffered on sale of diesel, kerosene and cooking gas at lower state-set prices. Indian Oil's share will be 42 billion rupees, Goyal said.