MUMBAI, June 11 (Reuters) - Indian state oil marketing
companies are expected to received a first tranche of about 70
billion rupees ($1.21 billion) as part of a cash subsidy payout
for the January-March period, two officials at state-owned oil
companies told Reuters.
The cash payout will be in six tranches of an equivalent
amount every Tuesday, the officials said. The subsidy will be
paid by July-end.
The Finance Ministry approved 450 billion rupees in subsidy
payouts to oil retailers last month.
($1 = 57.9100 Indian rupees)
(Reporting by Neha Dasgupta and Prashant Mehra; Editing by