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The government today approved an additional subsidy of Rs 8,000 crore to make up for the losses suffered by the state run fuel retailers on the sale of diesel, LPG and kerosene below cost in the third quarter.
The finance ministry today issued a letter approving the payment of a cash compensation of Rs 4,442.45 crore to IOC, Rs 1,809.85 crore to BPCL and Rs 1,747.70 crore to HPCL, an Oil Ministry official said.
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