Govt weighs LPG subsidy for oil marketing companies as losses mount

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Govt weighs LPG subsidy for oil marketing companies as losses mount - Business Standard

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The central government, which did not allocate funds for record underrecoveries in this financial year’s Budget presented on February 1, may reimburse a sizeable portion of the estimated Rs 40,000 crore in losses incurred on liquefied petroleum gas (LPG), said two sources who participated in high-level discussions this year.

India’s favourite cooking fuel may burn better, as the Narendra Modi government is seriously considering a one-time subsidy for oil-marketing companies (OMCs) in the coming months to offset part of the mounting losses on fuel sales, sources privy to internal discussions said.