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Budget 2022

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business

Still prefer upstream cos to downstream: StanChart Bank

The government has hiked the contribution of upstream oil companies toward fuel subsidies to 38.8% for 2010-11 fiscal. In an interview with CNBC-TV18, Rahul Singh, Standard Chartered Bank says, he would still be in favour of upstream. “We are more negative on the downstream at this point of time,” he adds.

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