Indian Government Provides Rs 1.23 Lakh Crore Support to Oil Marketing Companies After West Asia Fuel Shock

A recent report indicates the Indian government allocated substantial financial aid to oil marketing companies. The support totals Rs 1.23 lakh crore. The funding was announced in response to a fuel shock originating in West Asia. The shock had raised concerns about domestic fuel prices and supply. The aid is intended to help state-owned OMCs manage the price impact. Moneycontrol.com cited the figure in its coverage. Officials described the measure as a buffer against market volatility. The move underscores the government's effort to stabilize the energy sector.