Indian Oil Marketing Companies (OMCs) are absorbing massive monthly losses of ₹30,000 crore by not passing on rising global crude oil prices to consumers. This decision, aimed at shielding consumers from inflation, is supported by a government revenue sacrifice of ₹14,000 crore via excise duty cuts, creating a significant fiscal and energy security challenge.
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- ›Monthly Under-recovery: ₹30,000 crore
- ›Govt Monthly Revenue Loss: ₹14,000 crore
- ›Target this Data: ₹30,000 crore monthly under-recovery for OMCs.
- ›Target this Nodal Body: Petroleum Planning & Analysis Cell (PPAC) for fuel consumption data.
- ›Target this Geo-point: Strait of Hormuz accounts for one-fifth (20%) of global energy trade.
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