ONGC, the Maharatna PSU and the nation's most profitable company, will see its capital expenditure rise to Rs 36,249.37 crore as compared with Rs 34,813 crore...
in the current fiscal, shows the Budget 2015-16 document.
On the other hand its overseas arm, ONGC Videsh Ltd, will invest another Rs 10,402 crore in 2015-16. This, however, is lower than the investment of Rs 12,387 crore in the current fiscal.
Another oil major Oil India Ltd (OIL) has projected its capex rising by 11 per cent to Rs 3,917.64 crore.
Refining and marketing companies will invest Rs 20,256.02 crore.
Indian Oil Corp (IOC) will lead the chart with 10.5 percent increase in the capex at Rs 9,407.80 crore. It will invest another Rs 1,000 crore in exploration and production as well as petrochemical business.
Hindustan Petroleum Corp Ltd (HPCL) will see a marginal decline in its capex of Rs 1,636.64 crore in 2015-16 when compared with Rs 1,763.56 crore in the previous year.
Bharat Petroleum Corp Ltd (BPCL) will see its refining capex go up by 11.6 per cent to Rs 5,101.32 crore besides another Rs 1,400 crore being invested in E&P business.
Gas utility GAIL India Ltd will invest Rs 2,704.51 crore as opposed to Rs 2,131.52 crore capex in 2014-15.
The Union Budget for 2015-16 provides for Rs 30,000 crore towards domestic cooking gas (LPG) and kerosene subsidy. Of this Rs 21,140 crore has been provided for transferring as direct cash subsidy to cooking gas users under the Direct Benefit Transfer for LPG (DBTL).
The subsidy provided compares with Rs 57,085 crore in the revised estimate for 2014-15. This was provided to state-owned oil companies to make up for losses incurred on fuel sales at government-controlled rate.
The revised estimate of Rs 57,085 crore compares to Rs 57,335.95 crore provided in the Budget estimate of 2014-15. In 2013-14, Rs 80,772 crore was provided for subsidy compensation.
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