Govt repaid over Rs 2 lakh cr on account of oil bonds taken by previous Congress govt, says oil minister Dharmendra Pradhan

Patna: The NDA government repaid over Rs 2 lakh crore, including Rs 70,000 crore interest, which was taken as loan through oil bonds by the previous Congress government at the Centre, Union Petroleum & Natural Gas Minister Dharmendra Pradhan said on Tuesday.

Pradhan's assertions came as strong retort to the Congress which has been using recent fuel prices hike to attack the Narendra Modi government.

The Congress has been claiming that they were also in the government but fuel prices were not so high in 2012, 2013, 2014.

Oil Minister Dharmendra Pradhan. File photo. Reuters

Oil Minister Dharmendra Pradhan. File photo. Reuters

Pradhan was addressing a function organised here by the BJP on the 43rd anniversary of Emergency.

Stating that he was going to reveal the reason why the country is facing such a situation, Pradhan said the "Congress party (government) purchased oil bonds of Rs 1.44 lakh crore that we (NDA govt) inherited. Not only this, we also paid Rs 70,000 crore on interest part alone. In total, we (govt) discharged our responsibility by repaying over Rs 2 lakh crore."

"They (Congress govt) took loans through oil bonds as they knew that they would not return to power due to the kind of loot (scams) the government was involved in," Pradhan alleged.

"A father who leaves behind property for his next generations is seen with respect in the society but what one would say about the father who takes loans and turns bankrupt and leaves baggage for his generations to come," Pradhan said in a veiled attack on the previous government.

The Organisation of Petroleum Exporting Countries (OPEC) has agreed to raise production by one million barrels per day at India's request, said Pradhan.

Pradhan was accompanied by Bihar Deputy Chief Minister Sushil Kumar Modi, Bihar BJP president Nityanand Rai, Bihar ministers such as Nand Kishore Yadav, Prem Kumar, Mangal Pandey and a host of other leaders including national vice president Renu Devi, Bihar BJP general secretary (organisation) Nagendra jee, vice president Devesh Kumar.

Updated Date: Jun 27, 2018 13:17 PM

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