Official figures expose BJP's falsehood on oil bonds: Congress leader Ajay Maken

New Delhi [India], August 17 : All India Congress Committee general secretary Ajay Maken on Tuesday cited official figures saying that they "expose the BJP's falsehood on oil bonds."
Since 2014-15 the Narendra Modi govt has spent Rs 73,440 crore on servicing of oil bonds. Against this, they have collected Rs 22.34 lakh crore through taxes on petroleum products, Maken said in a press release.
Spending on servicing of oil bonds is just 3.2% of the tax collection from petroleum products; the real reason is not oil bonds but reduction in subsidy by 12 times and increase of taxes by 3 times, the release stated.
In 2020-21 alone, tax on petrol-diesel was Rs 4,53,812 crore and it is three times more than 2013-14, stated the press release.
The Bharatiya Janata Party (BJP) raised Central Taxes on petrol and diesel by Rs 23.87 and Rs 28.37 per litre in seven years, stated the release.
The Modi government collected additional Rs 1,89,711 crore every year and has "extorted Rs 22,33,868 crore by levying excise on petrol-diesel in the last seven years", alleged the press release.
"Consistent Increase in the prices of LPG, CNG, PNG, Petrol, and Diesel Exemplifies Modi government's arrogance," said Maken in the press release.
In the last 15 months, the insensitive BJP government had raised petrol and diesel rates by Rs 32.25 and Rs 27.58 per litre respectively, further stated the press release.
The official figures of Petroleum Planning and Analysis Cell said that during the UPA Government gave subsidies on petroleum products to the tune of Rs. 1,64,387 crores in 2012-13 and Rs. 1,47,025 crore in 2013-14. On the contrary, the present Modi Government drastically reduced this amount year after year to Rs 12,231 crores in 2020-21.
When the Congress Government demitted office in 2014, and the Modi government came to power, at that time the prices of crude oil in the international market were 108 dollars per barrel, and at that time petrol was being sold at Rs 71.51 per litre and diesel at Rs. 57.28 per litre and today the prices of crude oil in the international market is 69.22 dollar per barrel, which means the prices of crude oil has come down by 36 percent in the international market, but, in India prices of petrol has registered an increase of 42 percent and is being sold at Rs 101.84 and diesel prices have been increased by 57 percent and are being sold at Rs 89.87 per liter, stated
Daily Dynamic Pricing is another fraud on the people of India. The international prices of crude have gone down but the Prices of Petrol/Diesel are the same for the last month, it was Rs 101.84 & Rs 89.87 on July 17, 2021, and still the same today.
The press releases stated the reason behind why the government cannot lower the excise on petroleum products that because of lowering of corporate tax, the Government needs more money to match its spendings.
"We are not against providing any relief to the corporate sector since it has an important role in nation-building but we are against fleecing the poor, the farmers, and common people to compensate for fall in Gross tax revenue from corporate. The Government should control its extravagance to compensate for any shortfall in revenue due to the reduction of corporate taxes," stated the press release.