Govt may scale down capital infusion in OMCs

Capital infusion in state-run oil marketing companies (OMCs) may turn out to be much less than the budgete estimate (BE) of Rs 35,000 crore in the current financial year. This is because robust profits in the first half on the back of subdued crude oil prices enabled these firms to partly offset the losses incurred in the previous quarters, sources told FE.

“There is no clarity as of now on how much capital will be infused in the OMCs, but it will be only a part (of the budget estimate),” an official said.