Oil bonds issued by UPA being serviced: Piyush Goyal

Union Minister Piyush Goyal said Tuesday that oil bonds issued by the previous UPA government are being serviced currently by the National Democratic Alliance (NDA) regime.

"Oil bonds issued by the previous government are being serviced currently- total oil bonds issued between 2005-2010 is Rs. 14, 8187 crores, while outstanding oil bonds (as on April 1, 2018) which will be discharged only between 2022-2026 is Rs. 13, 0923 crores. Also, interest paid on oil bonds between 2014-18 is Rs. 40,226 crores," Goyal said at the 6th Annual Growth Net Summit, which has been jointly organised by the Confederation of Indian Industry (CII), the Ananta Centre and Smadja & Smadja.

"While the repaid or discharged bonds amounting to Rs. 26,996 crores had been issued to before 2005," Goyal added.

Goyal also criticized the UPA government for the large number of subsidies handed out for kerosene, LPG, fertilizer and food security. He said that central sales taxes reimbursement to states had not been paid for years by the UPA.

"We have inherited 1 lakh 30 thousand crores of oil bonds which are unpaid bills of oil companies from 2009-14. Additionally a large number of subsidies for kerosene, LPG, fertiliser, food security, central sales taxes reimbursement to states were not paid up for years by UPA," Union minister added.