Question : INVENTORY IN ONGC

(a) whether the Government is aware of the huge inventory is being held by the Oil and Natural Gas Corporation (ONGC);

(b) if so, the value of inventory held by ONGC at the end of each of the last three financial years;

(c) whether any independent body has ever carried out a physical verification of inventory;

(d) if so, the results thereof;

(e) if not, whether the Government proposes to carry out the verification; and if so, the details thereof?

MINISTER OF PETROLEUM & NATURAL GAS AND PANCHAYATI RAJ (SHRI MANI SHANKAR AIYER)

(a) According, to information received from ONGC, their inventory holdings are directly related to the magnitude of operations envisaged/ carried out during a particular period.

(b) The value of inventories held by ONGC during the last three financial years is as below:

As on	(Rs. in Crore)
31.03.2005	2569.19
31.03.2004	2405.69
31.03.2003	1571.02