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Govt likely to compensate oil companies soon

Hindustan Times West UP

|

July 11, 2025

The government is likely to give a subsidy of ₹30,000-35,000 crore to state-run oil companies - Indian Oil Corporation (IOC), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL) - to compensate for losses incurred from selling LPG at below cost over the past 15 months, according to a senior official.

- Press Trust of India

The finance ministry is working out the exact under-recovery or loss incurred and the mechanism to compensate it, he said.

In the Union Budget for 2025-26 fiscal (April 2025 to March 2026) presented on February 1, the government has made no provision to compensate for the under-recoveries. However, in April, the government raised excise duty on petrol and diesel to garner additional ₹32,000 crore in revenues.

This additional revenue is what the finance ministry may use to compensate for LPG under-recoveries.

Hindustan Times West UP からのその他のストーリー

Hindustan Times West UP

Supreme Court shortlists lawyers to translate complex judicial papers

In an age driven by artificial intelligence, the Supreme Court is turning to natural intelligence to overcome a longstanding problem -- the poor and often inaccurate English translation of judicial records originally written in Indian languages.

time to read

1 min

October 24, 2025

Hindustan Times West UP

Modi to attend Asean summit, but virtually

India and Malaysia announced on Thursday that Prime Minister Narendra Modi will join the Asean-India Summit virtually, with the PM skipping the regional gathering in Kuala Lumpur due to scheduling and other issues and external affairs minister S Jaishankar representing the country at several key meetings.

time to read

1 min

October 24, 2025

Hindustan Times West UP

INDIA TO ALLOW CANADA BOOST ITS DIPLOMATIC STAFF IN NEW DELHI

TORONTO: India will gradually allow Canada to post a “similar number” of diplomats and officials in the country as it had before October 2024, when the two countries carried out tit-for-tat expulsions of senior diplomats amid the diplomatic row over the killing of a Khalistani separatist in 2023, a senior Indian government official said.

time to read

1 min

October 24, 2025

Hindustan Times West UP

A Bihar puzzle the BJP waits to solve

In the end, the 2025 Bihar election will be about the party's ability to shield its allies even as it outgrows them

time to read

4 mins

October 24, 2025

Hindustan Times West UP

BANKS TO ALLOW FOUR NOMINEES FOR ACCOUNTS, LOCKERS NOW

Starting next month, you'll be able to have as many as four nominees for your bank accounts and lockers, compared to just one at present.

time to read

1 mins

October 24, 2025

Hindustan Times West UP

Hindustan Times West UP

RBI cautions states on fiscal discipline as bond yields rise

Flagging sharp rise in state bond yields, the Reserve Bank of India (RBI) has cautioned states against pre-election populist spending and fiscal slippage, especially in Bihar and Maharashtra.

time to read

2 mins

October 24, 2025

Hindustan Times West UP

CAN THERE BE A COMPLETE BAN ON ONLINE GAMING? SC ASKS CENTRE

The Supreme Court has sought to know from the Union government whether online gaming and betting platforms can be completely banned, as it agreed to examine a public interest litigation (PIL) alleging that gambling and betting websites are thriving under the guise of social and e-sports games.

time to read

1 min

October 24, 2025

Hindustan Times West UP

CM pick lacks credibility: BJP

BJP MP Ravi Shankar Prasad on Thursday slammed Mahagathbandhan’s CM candidate Tejashwi Yadav, questioning his credibility over his father Lalu Prasad’s 32.5-year sentence in fodder scam cases and Tejashwi's own charges under IPC Section 420.

time to read

1 min

October 24, 2025

Hindustan Times West UP

Tejashwi named Oppn bloc's CM face for Bihar

The opposition INDIA bloc, led by the Rashtriya Janata Dal (RJD) and Congress, on Thursday declared Tejashwi Prasad Yadav as its chief ministerial candidate and Vikasheel Insaan Party (VIP) chief Mukesh Sahani as the deputy CM face for the upcoming Bihar Assembly elections.

time to read

1 min

October 24, 2025

Hindustan Times West UP

Four Bihar gangsters killed in early morning Delhi shootout

Over 40 bullets were exchanged during a shootout in Delhi's Rohini early Thursday, in which four members of Sigma and Company gang, wanted in five criminal cases including four contract killings in Bihar, were killed, senior crime branch officers said.

time to read

1 min

October 24, 2025

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