Govt proposes merging state oil firms to make $100-bn major
Finance Minister Arun Jaitley on Wednesday announced plans to create a $100-billion (₹6.75 lakh crore) state-run giant firm by merging various public sector oil and gas firms. The 'oil major' will be able to match the performance of international and domestic private sector oil and gas companies, Jaitley said in the Budget speech.