Budget stepped on the gas for GAIL, IGL; but no fuel for RIL, ONGC & OIL
NEW DELHI: Budget 2020 had a fair dose of measures for the oil & gas sector, including an increase in petroleum subsidies, expansion in gas grid and abolition of anti-dumping duty on PTA (purified terephthalic acid). Analysts see neutral impact on the sector from these announcements.
IIFL SecuritiesNSE 0.10 % said the Budget has raised allocation on LPG and kerosene subsidy by 6 per cent for FY21.
