State-owned oil firms are incurring massive daily losses, estimated at Rs 1,600-1,700 crore, to shield Indian consumers from global energy price shocks. This has led to over Rs 1 lakh crore in under-recoveries in 10 weeks, raising concerns about their financial sustainability and the need for potential price hikes.
Rs 1,600-1,700 cr a day, Rs 1 lakh cr in 10 weeks: Cost of insulating India from global energy shock
