Fuel Subsidy

ONGC Q2 net profit dips 11% on sharp fall in global oil prices

Net profit in the July-September quarter at Rs 4,842.02 crore was 11 percent lower than Rs 5,444.89 crore clocked in the same period of last fiscal, the firm said in a statement.

ONGC Q1 net profits jumps 14% to Rs 5,460 cr on lower fuel subsidy

Net profit in April-June period at Rs 5,460 crore was up 14.2 percent from Rs 4,782 crore in the year ago quarter.

ONGC, OIL free from subsidy if average oil price is $60/barrel

The difference between the cost and the retail selling price is borne by the government by way of cash subsidy and upstream producers like ONGC and Oil India.

Finance ministry sanctions Rs 5,223 cr fuel subsidy for IOC, BPCL

The fuel retailers had lost a total of Rs 72,314 crore on selling diesel (up to 17 October), LPG and kerosene at government rates, which were way below cost in 2014-15.

Govt may exempt ONGC, OIL from payment of fuel subsidy in Q4

The difference between the cost and the retail selling price is borne by the government by way of cash subsidy and upstream producers like ONGC.

Govt seeks Parliament nod for additional Rs 36,953 cr spending

The second batch of Supplementary Demands for Grants 2014-15 was tabled in Parliament today by Finance Minister Arun Jaitley.

Tax math, disinvestments will make or break Arun Jaitley's Budget 2015

Evaluating the budget is always a tricky job and ideally one should score the earlier budget based on realization versus budgeted numbers.

Budget 2015: Three graphics that explain FM Jaitley's task on deficits

A higher fiscal deficit means the government will borrow more from the market through issuance of government securities.

Budget 2015: Food and fuel subsidy bill may be cut by 20%

India may slash its food and fuel subsidy bill by 20 percent, or about $8 billion, in the annual budget to be presented next week, two government sources said.

ONGC, others to pay Rs 10,900 cr as fuel subsidy for December quarter

ONGC and other state-run explorers may have to pay about Rs 10,900 crore in fuel subsidy after Finance Ministry has agreed to provide only Rs 5,085 crore in cash subsidy for the December quarter.