Ever since the government decision was announced on June 27, there has been criticism that it was made to benefit Mukesh Ambani-led RIL.
Finance ministry on July 4 wrote to oil ministry asking it to take appropriate action on suggestions made in two media reports for putting a cap up to which rates can be raised, and RIL being forced to sell the quantity it had committed but failed to deliver in past three years at old rate of $4.2.
“The Office Memorandum dated July 4 from the department of expenditure, ministry of finance... has enclosed two editorials of the newspapers and illustrated some of the issues in these editorials. That cannot be taken as objective opinion of ministry of finance. It cannot (also) be considered as query raised by ministry of finance,” Moily said.