Claim: Increase in petrol prices is because of debts incurred by the previous UPA government led by Congress in the form of oil bonds.
Fact-check: Pending dues for 'Oil Bonds' issued during the UPA are only a fraction of the Taxes collected on Petrol & Diesel - FACTLY
Verdict: by the time bjp led nda first came into power in 2014, the pending dues for oil bonds accounted for rs. 1,34,423 crores. and over the period of seven years i.e. from 2014-15 to 2020-21, the union government has paid a total of rs. 73,695.72 crores for these oil bonds in the form of interest & principal. whereas the during the same time period, the central government has collected a total of rs. 25 lakh crores in revenue through collection of taxes on petroleum products. in other words, pending dues for the for 'oil bonds' issued during the upa are only a fraction of the taxes collected on petrol & diesel, and hence, the current increase in oil prices cannot be justified by the pending dues for oil bonds. hence the claim made in the post is misleading.
Organisation: FACTLY
Author: Chaitanya
Date published: 2022-04-08T11:10:01