Cabinet Approves Rs 30,000 Crore Compensation for Oil Marketing Companies

The Union Cabinet, led by Prime Minister Narendra Modi, has approved a compensation of Rs 30,000 crore to three Public Sector Oil Marketing Companies (IOCL, BPCL, HPCL) for losses incurred from selling domestic LPG at regulated prices. This decision aims to support the companies amidst high international LPG prices and ensure the continued supply of affordable LPG to consumers. The compensation will be distributed in twelve tranches and underscores the government's commitment to protect consumers and maintain the financial health of these companies.

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