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The Government of India have collected an amount of approximately Rs.51,000 crore up to 31.3.2004 through the Oil Industry Development Cess. The Oil Industry Development Board (OIDB) has so far received an amount of approximately Rs.902 core out of the cess collected by the Government of India. The amount so allocated to OIDB is utilized for the development of the oil industry.
During the year 2003-04, the OIDB has released an amount of approximately Rs.520 crore towards loans and Rs.77 crore towards grants to Oil Sector PSUs/other Organisations engaged in the development of the oil industry.
This information was given by Shri Mani Shankar Aiyar, Minister of Petroleum & Natural Gas and Panchayati Raj in a written reply in the Rajya Sabha today.
RCJ /VK/OIDB(22.3.05)
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