ONGC, OIL face risk of subsidy sharing: Moody's
ONGC and OIL, it said, have not contributed to fuel subsidies since June 2015, but have in previous years paid for over 40 per cent of the country's annual subsidy bill.
May 22, 2018, 17:44 PM IST
India records impressive growth in recent years: IMF
India's growth has been "impressive" in the recent years which makes room for tax broadening efforts by the government, according to a top IMF official.
Apr 20, 2017, 15:06 PM IST
Govt exempts ONGC, Oil India from fuel subsidy payment in Q3
Government has exempted state-owned ONGC and Oil India from payment of fuel subsidy in the third quarter ended December 31, as slump in oil prices dented their revenues.
Feb 09, 2016, 18:35 PM IST
Finance Ministry to assume oil price at below $50 in Budget 2016
The Finance Ministry likely to peg the notional value of crude oil price below USD 50 a barrel while computing the subsidy numbers and fiscal deficit in the Budget 2016-17.
Jan 11, 2016, 20:50 PM IST
Fiscal deficit to reduce to 3.7% of GDP by FY18: Deutsche Bank
Though two major thrusts like fuel subsidy reduction and capital expenditure compression have driven fiscal consolidation in recent years, hardly any progress has been made in improving revenue collection.
Nov 10, 2015, 16:32 PM IST
Finance Ministry sanctions Rs 5,223-cr fuel subsidy for IOC, BPCL
Indian Oil Corp (IOC) will get Rs 2,932 crore subsidy and Bharat Petroleum Corp Ltd (BPCL) Rs 2,291 crore for selling fuel below cost in Q4 of 2014-15, but Hindustan Petroleum Corp Ltd (HPCL) will not get any support.
May 22, 2015, 11:44 AM IST
Govt picks up the tab for ONGC, OIL Q4 fuel subsidy
The government has exempted oil producers ONGC and Oil India Ltd from payment of fuel subsidy in the fourth quarter after the finance ministry agreed to meet all of the revenue loss on fuel sales.
Apr 16, 2015, 18:31 PM IST
Oil Ministry seeks Rs 22,101cr in fuel subsidy for H2 2014-15
Oil Ministry has sought Rs 22,101 crore in fuel subsidy for the second half of current fiscal so as to almost exempt oil producers ONGC and Oil India Ltd from any payments.
Feb 05, 2015, 15:38 PM IST
ONGC's subsidy burden being cut
The government plans to sell 5 percent stake in ONGC worth about $2.5 billion as part of its divestment programme.
Dec 08, 2014, 19:12 PM IST
No exemption to ONGC from fuel subsidy payout: Pradhan
The government is not considering exempting state-owned Oil and Natural Gas Corp (ONGC) from payment of fuel subsidy, Oil Minister Dharmendra Pradhan said Wednesday.
Dec 03, 2014, 21:36 PM IST
Oil Ministry seeks Rs 8,183 cr in fuel subsidy
Indian Oil Corp (IOC), Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) had reported a revenue loss of about Rs 24,563 crore in the July-September quarter.
Nov 10, 2014, 14:51 PM IST
GAIL profit up 42% at Rs 1,303 cr
GAIL (India) Ltd, the nation's largest natural gas distributor, today reported 42 per cent jump in its September quarter net profit as it did not pay any fuel subsidy.
Oct 31, 2014, 18:05 PM IST
Oil marketing companies to get Rs 11K crore on subsidy in Q1
Fuel retailers sell diesel, domestic LPG and kerosene at government controlled rates which are below market price. The loss they thus incur is made good through cash subsidy from the government and dole from upstream firms like ONGC.
Aug 11, 2014, 12:48 PM IST
Govt seeks Rs 15,546-crore fuel subsidy from upstream cos
Indian Oil Corp (IOC) will get Rs 8,107 crore from upstream firms in fuel subsidy support for the first quarter while Hindustan Petroleum Corp Ltd (HPCL) will get Rs 3,608.88 crore.
Jul 31, 2014, 12:58 PM IST
ONGC opposes govt stake sale before issues are resolved
The government plans to sell 42.77 crore shares, or five per cent of its stake in ONGC worth Rs 17,400 crore at current prices, this fiscal.
Jul 17, 2014, 13:45 PM IST
Moody's expects govt to reduce fuel subsidy bill
Rating agency Moody's expects the government to reduce its fuel subsidy bill through a gradual process that in turn will lead to higher product prices and prove credit positive for oil marketing companies.
Jul 01, 2014, 19:44 PM IST
