LPG price rise: Cabinet to give Rs 22,000 Crore to PSU oil companies to cover losses
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The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, today has approved the proposal of Ministry of Petroleum & Natural Gas to give one time grant amounting to Rs.22,000 crore to three Public Sector Undertaking Oil Marketing Companies (PSU OMCs). The grant will be distributed among Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL).