Is UPA Responsible For Fuel Price Hike?| Oil Bonds| Dr Manmohan Singh https://www.youtube.com/watch?v=Ci7yRl_8hvU
Union minister of petroleum and natural gas Dharmendra Pradhan on Wednesday linked the recent fuel price hike with the Congres rule and, citing economists, the minister said that the Congress had left oil bonds worth crores for repayment, which is why the current Bharatiya Janata Party-led government has to pay both its interest and principal price. “This is also a big reason for the rise in fuel prices,” he told news agency ANI. In this episode of the Editorial, our Managing Editor Mr Sujit Nair discusses what is oil bonds and is it really behind massive fuel price hike in the country?
Govt. has to pay 10000 crores for bonds in 2021. But it has collected 3 lakh crore rupees in taxes on petroleum. Is this then responsible for the high prices.. The issue of bonds is a normal mechanism for tiding over liquidity crises. eg the public sector Bank recapitalisations bins issued by the MOdi govt, or the fertiliser bonds.