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India to Give 150 Billion Rupees Subsidy to State Refiners in Q3-HPCL

  • Finance ministry has agreed to pay 150 billion rupees as cash subsidy to state-run oil refiners for the October-December quarter, said B. Mukherjee, director of finance at Hindustan Petroleum Corporation Ltd (HPCL) on Thursday.He said HPCL's share of subsidy would be 33 billion rupees, as compensation for selling oil products at state-set cheaper prices.

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