No cut in excise duty on petrol, diesel for now; have to pay for past oil bonds: FM Sitharaman3 min read 16 Aug 2021, 05:56 PM IST
Sitharaman said that exchequer is burdened by interest payments being made for oil bonds floated by UPA government
Finance Minister Nirmala Sitharaman on Monday said that there will be no cut in excise duty on fuel as of now. She said the previous UPA government had reduced fuel prices by issuing Oil Bonds of ₹1.44 lakh crore. “I can't go by the trickery that was played by previous the UPA government. Due to Oil Bonds, the burden has come to our government, that's why we are unable to reduce prices of petrol and diesel," she added.