10-June-2026
Economy News
 
Govt extends Rs 1.23 lakh cr bailout for oil companies losing Rs 652 cr per day
10-Jun-2026

The central government has announced to provide financial support of about Rs 1.23 lakh crore to oil marketing companies to cushion losses triggered by the West Asia conflict and shield consumers from a sharper rise in fuel prices. However, no proposal has been made to curb capital outflow, PTI reported, quoting sources. The support covers the initial 78 days of the conflict and includes the impact of excise duty reductions, the agency said. As the war rages on, with no respite in sight, the fertiliser minister has also sought to double budgeted subsidy to Rs 1.77 lakh cr for FY27, sources told PTI.

News Source:- https://www.financialexpress.com/policy/economy/govt-extends-rs-1-23-lakh-cr-bailout-for-oil-companies-losing-rs-652-cr-per-day/4263068/