The Union Finance Ministry in second week of February 2013 decided to pay an additional cash subsidy of 25000 crore rupees for the state owned fuel retailers. The subsidy package is being given to help the retailers in making up of the revenue that they lost while selling cooking and auto fuel below cost in the current fiscal year of April to December 2012.
A comfort letter was issued on 7 February 2013 by the Union Finance Ministry to the Indian Oil Corp. Ltd (IOC), Bharat Petroleum Corp. Ltd (BPCL) and Hindustan Petroleum Corp. Ltd (HPCL) that sanctioned sanctioning 25,000 crore rupees as the part of the revenue lost by them on selling diesel, domestic LPG and kerosene below cost or at subsidized cost. The sanctioned subsidy meets about 44 percent of the revenue lost by the three firms of 124854 crore rupees together on the Sale of cooking and auto fuels in a period of April to December in 2012.
As per the latest sanctions reveled IOC, BPCL and HPCL would get 13474.56 crore rupees, 5987.25 crore rupees and 5538.19 crore rupees respectively.
Comfort Letter issued by Finance Ministry for sanction of 25000 crore Subsidy
Government of India decided to pay the additional cash subsidy of 25000 crore rupees to the state owned fuel retailers in second week of Feb 2013.
.jpg){kind=logo}
Your career begins here! At Jagranjosh.com, our vision is to enable the youth to make informed life decisions, and our mission is to create credible and actionable content that answers questions or solves problems for India’s share of Next Billion Users. As India’s leading education and career guidance platform, we connect the dots for students, guiding them through every step of their journey—from excelling in school exams, board exams, and entrance tests to securing competitive jobs and building essential skills for their profession. With our deep expertise in exams and education, along with accurate information, expert insights, and interactive tools, we bridge the gap between education and opportunity, empowering students to confidently achieve their goals.
-1761909565760.jpg)
-1761826660200.jpg)
-1761821612587.jpg)
Comments
All Comments (0)
Join the conversation