Finance minister blames Putin’s war, UPA’s oil bonds for fuel price hike. India News – Times of India

new Delhi: finance Minister Nirmala sitharaman On Tuesday, the war in Ukraine has led to an increase in petrol and diesel prices and the government wants to respond to the situation.
The statement came after oil prices again raised pump prices on Tuesday, taking petrol to over Rs 100 per liter in the capital.
“Supply disruptions and global oil price hikes have been happening for a few weeks now and we are responding to that. Various steps have been taken by the government,” the finance minister said while replying to the debate on the Appropriation and Finance Bills in the Rajya Sabha, which were cleared. Upper House,
Meanwhile he slapped UPA To issue oil bonds worth Rs 2 lakh crore. “Today’s taxpayers are paying for subsidies that were given to consumers in the name of oil bonds more than a decade ago, and they will continue to pay for the next five years as bond redemptions continue until 2026. That’s it. The burden is also on us for the benefits given, apparently, through oil bonds raised 10 years ago,” she said. Acknowledging that the Atal Bihari Vajpayee government had also resorted to the means, the finance minister said. Said the scale was different.
Responding to the opposition’s criticism over cesses and surcharges, Sitharaman said that from 2013 to 2022-23, the utilization of health and education cess was over Rs 3.9 lakh crore as against collections of less than Rs 3.8 lakh crore and was mainly was funding the Centrally Sponsored Schemes. in the states.
He also opposed the idea that states were getting a lower share of the Centre’s taxes and said this year’s revised estimates were much higher than the budget estimates and last year’s transfers as the Center finally settled the pending dues for several years. Was. “The transfer that took place from 1996-97 to 2014-15 has been sorted out by the Modi government and we have approved Rs 43,000 crore till February 28…any person or any government can tamper with that process, The minister said.
He also said that former FM P Chidambaram’s criticism over the settlement of Air India’s dues was unwarranted as the Center had followed the same accounting principle over the years and everything was disclosed in the budget documents.

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