For the January- March quarter, the Finance Ministry has sanctioned Rs 5,223 crore fuel subsidy to cover almost all of the revenue loss that the two retailers has suffered on selling domestic cooking gas (LPG) and kerosene at government rates.
Indian Oil Corp (IOC) will get Rs 2,932 crore subsidy and Bharat Petroleum Corp Ltd (BPCL) will get Rs 2,291 crore for selling fuel below cost in Q4 of 2014-15, whereas Hindustan Petroleum Corp Ltd (HPCL) will not get any support.
