IndiaThe UPA government is paying off its debt; Nirmala responds to...

The UPA government is paying off its debt; Nirmala responds to fuel price hike


  • The UPA government has been blamed for the rise in fuel prices
  • The minister said he was responsible for the Rs 1.4 lakh crore oil bond
  • Had it not been for the oil bond obligation, prices would have fallen

New Delhi: Union Finance Minister Nirmala Sitharaman has said that fuel prices could have been reduced had it not been for the UPA government’s oil bond obligation. The minister claimed that he could have given a reduction in petroleum prices if he had not taken over the UPA government’s Rs 1.4 lakh crore oil bond.

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The Union Finance Minister was responding to a media query as to why the prices of petroleum and diesel products were not being reduced. The Finance Minister has said that the fuel price hike will not be resolved without detailed discussions between the Center and the state.

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The NDA government is paying for the betrayal of the UPA government. The UPA government has issued more than Rs 1 lakh crore worth of oil bonds. The minister said that their government pays more than Rs 9,000 crore in interest every year.

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