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ONGC to pay Rs 13,764 crore as fuel subsidy in Q3

Last Updated: Tuesday, January 28, 2014, 14:09

The government has ordered Oil and Natural Gas Corp (ONGC) to pay a near-record Rs 13,764 crore as fuel subsidy for the December quarter, a move that will dent the firm's profitability.

Fuel subsidy benefitting the rich not the poor: IMF official

Last Updated: Tuesday, March 05, 2013, 15:17

The massive amount of fuel subsidy, which is taking a toll on government expenditure, is mainly benefiting the rich and not the poor, an IMF official said on Tuesday.