The Oil and Natural Gas Corporation has proposed a 7.7 per cent increase in its annual Plan outlay for 2004-05 over the revised estimates of Rs 10,625 crore (Rs 106.25 billion) for the current fiscal.

In the annual Plan for 2004-05, submitted to the government recently, the corporation said in order to carry out its proposed programmes during the year, it would require an outlay of Rs 11,448 crore (Rs 114.48 billion) against the Budget estimates of Rs 10,625 crore (Rs 106.25 billion) for 2003-04 and an actual expenditure of Rs 5,089 crore (Rs 50.89 billion) during 2002-03.

In the revised estimates for the current year, the corporation has made a provision of Rs 2,300 crore (Rs 23 billion) towards acquisitions, diversifications and integration projects.

However, the Plan outlay for ONGC's own activities has been scaled down by Rs 1,940 crore (Rs 19.4 billion) mainly on account of slippages in deep water drilling, enhanced oil recovery schemes and also due to a delay in capital purchases.