New Delhi: Accusing the UPA “Tipu Muse”, Minister of Finance Nirmala Sitharaman on Monday said the Modi government paid for the responsibility of the oil bonds of Rs 2.5 lakh.
“If I don’t have a burden to serve oil bonds, I will be in a position to reduce customs in fuel …
The government has previously made our work difficult by issuing oil bonds,” Minister told reporters, added that when it was in power In 2014, it should release a white paper on liabilities inherited by him.
While many see comments FM as an indication of the central disability to make taxes on gasoline and diesel, at least for now, Sitharaman states that he “does not suggest anything” on changes in levies.
The comment triggered a strong retort by the Congress, which accused the center of tax increasing on fuel and bagged 4.5 lakh crore rs during the last fiscal year.
Sitharaman, however, said that in 2013, taxes on fuel “seemed to be lowered” but oil companies were made to bear the burden of oil bonds around Rs 1.4 lakh crore, with taxpayers having to pay debts for several years.
Interest obligations during the period is estimated at around RS 1.1 Lakh Crore, according to the estimated available with the Ministry of Finance (see Tables).
The last tranche of oil bonds will be carried out for payments in 2025-26.
“Modi 2.0 pays for 2013 price reduction.
The central government reduces prices, places the burden on the oil company and goes,” he said.
Accused the government “falsehood”, spokesman for Congress Randeep Singh Surjewala tweeted: “Don’t lie ) U incorrectly responsible! “In the past, some economists criticized UPA because it showed healthy financing by delaying the responsibility of the subsidy by issuing mature bonds and came with interest obligations.
With gasoline prices across RS 100 liters of signs in several parts of the country, Sitharaman has been under pressure to reduce taxes on automatic fuels as Revies reach more than half the pump price.
The government has so far refrained from doing it.
Last year, because global oil prices fell and government finance was hit by locking, the center and countries had caused levies.
When asked about the steps of the Tamil Nadu government to reduce VAT, Sitharaman suggested that it was up to countries to decide on this problem and argue that some countries only play higher levies.