OREANDA-NEWS. March 1, 2011. State-run explorer Oil India said it expects its subsidy payout to rise in the March quarter against the previous quarter after Monday's federal budget left tax structures on crude oil and products unchanged.  The subsidy payout is the discount given to state-run refiners on crude oil sales.

"Definitely considering there is nothing in the budget on duty changes, our subsidy burden in the current quarter will be higher than the previous quarter," T.K. Ananth Kumar, Oil India's finance director, said. He said the March quarter subsidy payout could be around 8.5-9 billion rupees, adding net oil sales billing in FY 11 could be at USD 62-63 per barrel.