In this Indian Express article, Shankkar Aiyar, Visiting Fellow at IDFC Institute, reviews the idea of merging oil PSUs. 

"Budget 2017 states that the purpose is to improve the performance to match those of global and Indian private players. It’s a laudable thought. It is important to realistically assess expectations from synergy in the Indian context, to review recent history.

The merger of Indian Airlines and Air India was also about synergy, optimality and performance. And if mergers do deliver optimality, why stop at oil PSUs—why not merge insurance companies, PSUs in the power sector?"

Read the whole article here.