Oil Bonds Subject: Economy Section: Fiscal policy Context: The Finance Minister has said the government cannot bring down taxes – and thus oil prices – because it has to pay for oil bonds issued by the UPA. From 2015 to 2021, the government has fully paid off four sets of oil bonds — […]

    Oil Bonds Subject – Economy Concept – Oil bonds are issued by the government to compensate oil marketing companies (OMCs), fertilizer companies and the Food Corporation of India (FCI) for losses borne by them in the process of regulating prices in the domestic market. It was introduced in 2005 to defer the payment of money to […]