'OMCs under-recoveries pegged at Rs 1.1 lakh cr

Annual under-recoveries of state-run Oil Marketing Companies (OMCs) have been estimated at Rs 1.1 lakh crore, the government told the Lok Sabha today. "The annual under-recoveries of the public-sector oil marketing companies (OMCs) on sale of four sensitive petroleum products -- petrol, diesel, PDS kerosene and domestic LPG -- have been estimated to be around Rs 1,10,000 crore," Minister of State for Petroleum Jitin Prasada said during Question Hour.