Hardeep Singh Puri – Union Minister:
In ‘India’s Lost Decade’ known for rampant impunity & policy paralysis, UPA Govt saddled future govts with Oil Bonds.
More than ₹1.5 lakh cr of these remain to be repaid, thus tying up crucial resources, limiting fiscal space & restricting financial freedom of OMCs.
The important E&P sector was fund-starved. As a result, our import bill continues to be high.
Nearly ₹3.6 lakh cr profits of oil companies was instead used for price stabilisation by a remote controlled govt of ‘economic experts’ to hide behind a ‘All is Well’ smokescreen.