The under-recovery, after the proposed price cuts, is estimated at Rs 51,964 crore compared to the pre-June figure of Rs 67,000 crore. The biggest gainer of this reduced under-recovery will be the government with a 42.24 percent cut in the bonds issue to Rs 21,950 crore from the June-determined Rs 28,300 crore.
Upstream companies Oil & Natural Gas Corp and GAIL (India) Ltd would have to eke out less at Rs 18,610 crore instead of Rs 24,000 crore. The losses or net under-recovery for oil marketing companies are estimated to come down to Rs 11,404 crore from Rs 14,700 crore.
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