Oil bonds during upa
26 Jun 2018 The NDA government repaid over Rs 2 lakh crore, including Rs taken as loan through oil bonds by the previous Congress government at the 26 Jun 2018 India Business News: The NDA government repaid over Rs 2 lakh crore as a loan through oil bonds by the previous Congress government at Reality: The figure is around 43,000 crore in unpaid dues to Iran for the period Hence UPA issued oil bonds worth 1.4 lakh crs outstanding as of2014 to control 11 Feb 2020 "Oil bonds worth a total of Rs 1.40 lakh crore, or 1.9 per cent of the GDP, was issued during the UPA regime to subsidise the oil prices and its 19 Aug 2019 1.1 A bond is a debt instrument in which an investor loans money to an State Development Loans (SDLs) and Special Securities (Oil bonds,
11 Feb 2020 had served as Defence Minister in the first term of the Modi government. 2005-2006 and 2010-11, every year there was issuance of oil bonds. Talking about previous UPA government, Sitharaman said “the entire
26 Sep 2018 It can be argued that despite enjoying windfall gains from the drop in global oil prices, the NDA government opted to shore up revenue by 16 Sep 2018 Oil bonds are a kind of special securities issued by the government of India to public entities like oil marketing companies, Food Corporation of 6 Dec 2018 BJP leaders said the Modi government repaid ₹1.5 lakh crore worth of oil bonds which were issued during the previous UPA government. 21 Sep 2018 Even the previous NDA government under Vajpayee issued oil bonds. In his budget speech of the 2002-03 budget, the then Finance Minister, 14 Feb 2019 Even the previous NDA government under Atal Bihari Vajpayee issued oil bonds. In his budget speech of the 2002-03 budget, the then Finance 26 Jun 2018 The NDA government repaid over Rs 2 lakh crore, including Rs taken as loan through oil bonds by the previous Congress government at the 26 Jun 2018 India Business News: The NDA government repaid over Rs 2 lakh crore as a loan through oil bonds by the previous Congress government at
Between 2004-05 and 2009-10, the three most profitable oil and gas companies (ONGC, GAIL and Oil India) were summarily asked to hand over Rs1,12,592 crore to three loss-making oil marketing companies. That’s nearly three times the current year’s central outlay for NREGA, the flagship social security scheme of the UPA.
Out of the Rs 1.44 lakh crore bonds issued by UPA, only two bonds worth Rs 3,500 crore matured during NDA’s term. The UPA government had issued oil bonds worth Rs 1.4 lakh crore between 2005-06 to 2008-09, to compensate OMCs who incurred under recoveries to the count of Rs 2.9 lakh crore owing to high international crude oil prices and the regulation of oil prices by the government, according to the Expert Committee report under Kirit Parikh. (Note: Under-recoveries are difference between the price at which the crude oil is purchased internationally and the retail selling price of refined petroleum Oil bonds were invented more than a decade ago during the tenure of the United Front government when the present finance minister was serving in the same post. Arguably, they might have been a clever way of keeping rising petroleum subsidies off the government's budget books during a temporary spurt in world oil prices. The NDA government repaid over Rs 2 lakh crore, including Rs 70,000 crore interest, which was taken as loan through oil bonds by the previous Congress government at the Centre, Union Petroleum
That’s nearly three times the current year’s central outlay for NREGA, the flagship social security scheme of the UPA. But even Rs1,12,592 crore wasn’t enough to staunch the bleeding of Indian Oil, BPCL and HPCL.
Oil bonds were invented more than a decade ago during the tenure of the United Front government when the present finance minister was serving in the same post. Arguably, they might have been a clever way of keeping rising petroleum subsidies off the government's budget books during a temporary spurt in world oil prices. The NDA government repaid over Rs 2 lakh crore, including Rs 70,000 crore interest, which was taken as loan through oil bonds by the previous Congress government at the Centre, Union Petroleum Between 2004-05 and 2009-10, the three most profitable oil and gas companies (ONGC, GAIL and Oil India) were summarily asked to hand over Rs1,12,592 crore to three loss-making oil marketing companies. That’s nearly three times the current year’s central outlay for NREGA, the flagship social security scheme of the UPA. How did UPA handle it? The UPA government artificially kept retail fuel prices lower but they achieved it by issuing long maturity dollar bonds for which even today interest payments are being made from taxpayers money (Refer Link# 5 for this). The biggest hit occurs in the year when the principal payments become due. The then-UPA government took to issuing oil bonds as a substitute for subsidies between 2005 and 2010. High crude prices and the blowback from the recession of 2008 increased fiduciary pressure on
BJP’s official twitter handle posted an infographic which said that the current government repaid more than ₹ 1.3 lakh crore worth oil bonds which were issued during the previous UPA government. RTI response from PPAC under the Ministry of Petroleum, confirms that the Modi government repaid only ₹ 3,500 crore worth oil bonds while bonds worth more than ₹ 1.3 lakh crore are still pending.
We have inherited 1 lakh 30 thousand crores of oil bonds which are unpaid bills of oil companies from 2009-14, says Goyal. Union Minister Piyush Goyal said on Tuesday that oil bonds issued by the previous UPA government are being serviced currently by the National Democratic Alliance Many BJP leaders including the petroleum minister were quoted as saying that the current government repaid more than Rs 1.5 lakh crore worth oil bonds which were issued during the previous UPA Oil bonds were invented more than a decade ago during the tenure of the United Front government when the present finance minister was serving in the same post.Arguably, they might have been a
Many BJP leaders including the petroleum minister were quoted as saying that the current government repaid more than Rs 1.5 lakh crore worth oil bonds which were issued during the previous UPA Oil bonds were invented more than a decade ago during the tenure of the United Front government when the present finance minister was serving in the same post.Arguably, they might have been a That’s nearly three times the current year’s central outlay for NREGA, the flagship social security scheme of the UPA. But even Rs1,12,592 crore wasn’t enough to staunch the bleeding of Indian Oil, BPCL and HPCL. Updated: May 23, 2018, 03:27 PM IST. The knives are out for the Modi government with retail fuel prices hitting an all-time high. The Centre and its various ministers, who had cried to the high heavens during the UPA regime over fuel prices, are now blaming global tailwinds and high state taxes for driving up crude oil prices.