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Indian Oil Current Debt At Over Rs 790 Billion: Chairman R.S. Butola

  • Indian Oil Corp's current borrowings are at over Rs 790 billion ($14.9 billion) which it hopes to reduce by early January with some cash compensation from the government, its chairman R.S. Butola said on Tuesday.He said the company hoped to get a cash compensation of 160 billion rupees by early January for selling fuels at subsidised rates.The government has agreed to give cash subsidy of 300 billion rupees to state-run firms selling subsidised fuels during April to September.

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