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Budget 2024: Indian Government Slashes Fuel Retailers' Equity Infusion To $2 Billion For Green Initiatives

The Indian government has revised its equity infusion plans for state-owned fuel retailers, reducing the amount to Rs 15,000 crore ($2 billion) to support their investments in energy transition projects, according to the finance ministry. However, the revised plan halves this equity support to Rs 15,000 crore ($2 billion). Alongside the equity infusion, Sitharaman had proposed Rs 5,000 crore ($670 million) for purchasing crude oil to fill strategic underground storages at Mangalore in Karnataka, Budget 2024 News, Times Now ....

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