Skip to main content

Breaking Myth of Petrol Debt:

It has been vociferously stated by ruling dispensation that they are paying petrol debt taken by previous government.
                       In this article we will be exploring two things:
1)      Whether debt paying story is true or not.
2)      Can this scenario  of paying huge petroleum borrowing  debt  of one government by other is possible or not
1)Paying Debt:
Link to below image: https://www.indiabudget.gov.in/budget2014-2015/ub2014-15/rec/annex6e.pdf

This data has been taken from government of India directly(As you can see in the URL). It shows that loan taken by the previous government(UPA) being maturing in NDA’s regime(2014-2019) is  1750+1750 crore rupee that is 3500 crore rupee, which is roughly equal to the cost of making “Statue Of UNITY” in Gujrat.
      My point is, if government says high petroleum price is due to previous government action , and they now do not have money , then why they built statue of UNITY having equal value of debt.

2)Has GOI actually Paid even 3500 crore Rupee:
Exploring the second scenario of paying huge petroleum borrowing  debt  of one government by other is possible or not?

Rules of borrowing:
Government never buys Petroleum, it’s the Government owned company that buys the petroleum.
What’s the difference?
Quite simple, Let’s understand with an example(Actual case of UPA regime):
Government company like IOCL bought crude oil  from IRAN(of whose debt NDA gov recently paid) and promised to pay the price back. As it happens in business, companies take loan and pays to the business partner then does it’s business earns profit pays it back to the Bank.
Something similar happens here. Since here company is buying from another sovereign government, which do not have any control over Indian company. These country ask guarantee form GOI . So government of India issues a bond called “OIL BOND” for certain time period as shown in above picture. Suppose GOI issued bond for 3 year then for 3 year companies like IOCL will pay to GOI and after 3rd year that is maturity GOI will pay the collected amount to the concerned country(Here IRAN).

Conclusion:
NDA government paid the debt taken of previous government, but it didn’t created any economical loss to NDA gov as the money paid was of the company involved in transaction.
So the claim that Petrol price rise is because of UPA is completely FALSE



Labels:

Comments

Post a Comment

Please provided your valuable comment on:

Aryan133aryan@gmail.com

Popular posts from this blog

USA violating international cyber Law

Any law not only cyber security, related should not be violated for any purpose, although we can change the rule following the proper guide lines enshrined within the law. The main reason to this argument is simple, as any law gains its strength till it is followed once violated irrespective of the reason weakens its sole purpose. Now in today’s digital world information is the most precious thing we have to keep as a individual or as a nation. Violating cyber laws creates a big dent on our future’s security as no one knows the value of information which one thinks to be null today, in future. Violating cyber laws by USA can lead to big brother syndrome for rest of the country who are not that technically advanced in digital arena. And it will eventually lead to mistrust impacting international ties which may in extreme scenario result in conservative approach by various nation in economic world , mostly by the countries having trade deficit with USA. This segregation of ec...
Post a Comment
Read more

vyapam-- the biggest scam

the vyapam is an admission and recruitment scam involving politicians. senior officials and businessmen in the indian state of Madhya pradesh professional examination board that is MPPEB....in hindi it is popularly known as VYAPAM: givrn below are curtain mysterious deaths from vyapam ...taken from wikkipedia 21 November 2009 Vikas Singh Thakur Middleman in PMT scam Died in Barwani because of illness and adverse drug reaction 2 12 June 2010 Shyamvir Yadav Middleman in PMT scam from Gwalior Died in Raisen in a road mishap 3 14 June 2010 Anshul Sachan 24-year old MBBS student, who joined the Sagar Medical College in 2009. Allegedly a middleman in the PMT scam. He and two of his friends died in a road mishap, while returning from Bhopal to Sagar. Their car crashed into a truck near Raisen. According to Anshul's father, the three were drunk and were probably over-speeding. His grandfather does not suspect any foul play in the death either. The truck driver was arrested and late...
Read more

evaporation

what causes water to evaporate every fluid (pure) has a definite vapor pressure at a fixed temperature , now if any how the partial pressure of the fluid is less then the the vapor pressure of the fluid then the fluid starts evaporating to attain the partial pressure equal to the  vapor pressure of the fluid, and then the equillibrium is reached and evaporation stops.                              basically at the top of the fluid there is a random motion of the fluid molecule due to the difference between the addhesve and cohesive forces, some molecule say 'n' goes into the vapour phase and some strikes back say m such that n>m then after the above explained condition is achieved then the constraint m=n. conclusion whenever there is the fluid in liquid state is  present then in that system partial pressure is exactly to the ...
Read more