FM Sitharaman pushes equity support to oil firms to next fiscal year

New Delhi: Finance Minister Nirmala Sitharaman has deferred to next financial year the Rs 15,000 crore equity infusion in state-owned fuel retailers to support their investments in energy transition projects. Sitharaman while presenting the annual Budget for 2023-24 on February 1 last year announced equity infusion of Rs 30,000 crore in Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) to support their energy transition plans.