The cabinet has planned to defer its decision on the Reliance-BP deal, reports CNBC-TV18's Siddarth Zarabi quoting government sources.
The Cabinet Committee on Economic Affairs (CCEA) was not scheduled to meet today. However, RIL-BP deal was included in the agenda as many of the ministers who sit on the CCEA are also part of the cabinet which had just concluded the meeting today, sources add.
The cabinet, today, looked at the proposal but they deferred it for reasons which are not yet known so far. There is no signal of any technical reason for this. It could just well be a matter of proprietary that some ministers in the cabinet could have felt that it should go to the original forum that it is intended to for such matter- the CCEA.
The next meeting is on July 28.
Earlier till July 18, there was a back and forth discussion between the Finance Ministry and Oil Ministry with regard to this matter being approved by CCEA. In fact on July 12, the Finance Ministry had told the Oil Ministry that it could go ahead and approve the deal at its own level without bringing the matter to the cabinet.
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