Oil cos ask govt for additional Rs 120 bn subsidy for LPG, kerosene: Report

Oil marketing companies (OMCs) have asked the Indian government for an additional Rs 120 billion subsidy payment for liquefied petroleum gas (LPG) and kerosene, according to a CNBC report quoting government sources. 

 

Amid weakening rupee and high crude oil price, India's OMCs have been under immense pressure. According to reports, the Finance Ministry will access oil companies' need for additional subsidy.

According to a report by Business Standard, government support for LPG and kerosene, constituting the petroleum subsidy, is set to increase