Dividend cut from OMCs, reduction in subsidies unlikely: DEA secy

As far as disinvestment is concerned, he has set an ambitious target of Rs 800 billion for the current financial year

The finance ministry Tuesday said it does not expect a cut in dividend from oil marketing companies despite these retailers absorbing Re 1 per litre from last week.

Economic Affairs Secretary in a tweet said there is no plan for reduction in subsidy and disinvestment target will also be met.

He was reacting to reports of reduction of dividend from oil marketing companies, subsidies cut, lesser disinvestment revenue etc during this fiscal from the Budget estimates.

"...This is completely fabricated. Nothing of this is true at all," he tweeted.

As far as disinvestment is concerned, he has set an ambitious target of Rs 800