New Delhi: After suffering heavy losses in the prior fiscal year, state-owned oil marketers are expected to generate a profit on gasoline marketing in the current fiscal year ending on March 31, 2024, according to Fitch Ratings' Monday report.
As a result of the government's increased investment on infrastructure and a pick-up in industrial activity, as well as the estimate that GDP will rise by 6-7 per cent in the next few years, the rating agency anticipates that demand for petroleum products in India will grow by a mid-single digit percentage in the medium term.