CNBC-TV18 reported quoting sources that the oil ministry has rejected company's demand to hike KG-D6 gas price before 2014.
According to sources, oil ministry said KG-D6 gas price hike was not appropriate before April 2014. The gas from KG-D6 is mainly used to supply power to distribution companies and fertiliser companies.
Sources told CNBC-TV18 that the gas price hike would lead to big financial burden on government and would increase subsidy burden by USD 6.3 billion.