The government's budget estimates for the subsidy bill in the 2012-13 fiscal stand nearly 14 per cent lower than the last fiscal estimates. Commenting on this development, Sudhir Vasudeva, Chairman & Managing Director of ONGC told NDTV Profit that the company needs more clarity on the subsidy front. "We are assuming 37.9 per cent subsidy for the current fiscal year. A hike in fuel price is needed," he said.
