PSU OMCs subsidy burden may fall to Rs 28,000-34,000 cr in FY16: ICRA

摘要

The subsidy burden on the public sector upstream firms is likely to drop to Rs 28,000-34,000 crore by FY16, with the gross under recoveries (GURs) expected to decline to Rs 56,000 crore then, rating agency ICRA Research said in a report. As per ICRA's estimates, the subsidy burden on PSU upstream companies is expected to decrease to Rs 28,000-34,000 crore by FY 16 as the overall GURs are projected to decline to Rs 56,000 crore during the year at crude oil price of $70 per barrel considering Rs 63 a dollar. The rating agency had projected the GURs of state-run oil marketing companies to decrease to around Rs 100,000 crore for FY15 from Rs 139,900 crore for FY14, considering average crude oil price of $108 per barrel and Rs 59.5 a dollar.