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Moody's expects ONGC, OIL to share fuel subsidy burden

Updated : May 22, 2018 01:53:36 IST

Moody’s expects that the fuel subsidies could total Rs 340 - Rs 530 billion in fiscal year 2019, the highest since fiscal year 2015, assuming that Brent price average about $60-$80 per barrel in the period.
ONGC and OIL will be asked to take some burden of the fuel subsidy if Brent price remain above $ 60 per barrel for the fiscal year 2019, due to government’s widening fiscal deficit.
Published : May 22, 2018 11:48 AM IST

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