The NDA government had a windfall gain when the crude oil prices shot down to as low as $28 per barrel in January 2015. Average crude oil prices was $46/bbl, $47 /bbl and $56/bb in 2015-16, 2016 The context of Modi saying what he did was a taunt from his political rivals, who stated that the Modi-led NDA regime was reaping the benefits of lower oil prices whereas the Congress-led UPA regime suffered with crude surging to $130-140 levels a barrel. Since then, times have changed. Modi doesn’t have that kind of oil luck any more

27 Feb 2019 Modi has been critical of volatility in international oil price and urging for “ responsible pricing” to meet the needs of importers and exporters of oil. 10 Sep 2018 The BJP Twitter handle explains the “Truth of hike in petroleum prices” 2018, there is a 28 per cent hike compared to 83.7 per cent under the UPA by including the Indian Basket Crude Oil prices for the respective years. 12 Sep 2018 Modi's oil taxes are undoubtedly higher than Manmohan Singh's, but keep in NDA-2 tenure—street prices rose 20.5% between NDA-1 and UPA-1, 75.8% that crude oil prices fell dramatically during this period; the 13% hike in the UPA was able to not pass on all the oil price hikes to consumers was  21 Sep 2018 Oil Bonds were issued by all the previous governments till 2010 when the petrol price was deregulated. Even the previous NDA government  26 Sep 2018 Despite global crude oil prices being significantly low as compared Under- recoveries are the difference between the cost of purchasing crude oil in the Did the NDA government repay Rs 1.4 lakh crore-worth of oil bonds? 10 Sep 2018 On May 16, 2009, petrol prices in Delhi were at Rs 40.62 per litre. On May 16, 2014, when the UPA ceded office to the NDA, the price of petrol  30 Aug 2018 Even if we look at the average growth rate under UPA II, a period of so-called asserted that NDA I achieved high growth that UPA somehow squandered. was during UPA II (5.26 percentage points), compared to either the Modi years There was a sharp rise in oil prices and a commodity price boom 

The graphic (see top one) showed petrol prices as rising the least during the NDA-2 tenure—street prices rose 20.5% between NDA-1 and UPA-1, 75.8% between UPA-1 and UPA-2 and 13% between UPA-2

The International crude oil prices have reduced to $54 per barrel from $114 per barrel in 2014. But the Government did not transfer this benefit to diesel using farmers. Instead the Government increased the custom duty from 2.5% to 7% and raised the excise duty 4 times, profiteering an amount of Rs 80,000 Cr. The NDA government had a windfall gain when the crude oil prices shot down to as low as $28 per barrel in January 2015. Average crude oil prices was $46/bbl, $47 /bbl and $56/bb in 2015-16, 2016 The graphic (see top one) showed petrol prices as rising the least during the NDA-2 tenure—street prices rose 20.5% between NDA-1 and UPA-1, 75.8% between UPA-1 and UPA-2 and 13% between UPA-2 The difference between domestic and international price of oil has gone up substantially during the time of NDA government as compared to that during the UPA-II time. The petrol price went up to near Rs.80 per liter during the UPA time primarily because of the high international price of crude oil. But no one talks about the variation of actual price of crude oil and the TAX, in the UPA and the NDA govt era. The 14.2 kg and the 18.5 kg gas cylinder price. The price of crude saw ‘the highest range’ in UPA era of 2009–2014, which was from low $80 to high $120 per barrel. India Speaks is an effort to build a better online community for Indians. We take our pride in being the most friendly and user-focused community

22 May 2018 It is only in comparison to the dismal record of UPA 2 that the NDA May 2014: Modi Govt. begins term Global crude oil price hovered around 

But no one talks about the variation of actual price of crude oil and the TAX, in the UPA and the NDA govt era. The 14.2 kg and the 18.5 kg gas cylinder price. The price of crude saw ‘the highest range’ in UPA era of 2009–2014, which was from low $80 to high $120 per barrel.

The narrative gaining traction is that while the UPA II, it was the government subsidising fuel prices, now it’s the retail customers paying for the government. Analysts have made the point that crude oils prices now are $80 a barrel in 2009, whereas in 2009 it was $120 barrel after peaking at $147.3 at barrel.

What distinguishes the NDA regime from the UPA-2 regime, vis-à-vis the oil price policy, is the thick broken line measuring the difference between the domestic petrol price and the international price of crude oil in terms of rupees per litre. As is clearly evident, this difference has been maintained at a very high level of Rs 40 per litre The NDA government had a windfall gain when the crude oil prices shot down to as low as $28 per barrel in January 2015. Average crude oil prices was $46/bbl, $47 /bbl and $56/bb in 2015-16, 2016 The context of Modi saying what he did was a taunt from his political rivals, who stated that the Modi-led NDA regime was reaping the benefits of lower oil prices whereas the Congress-led UPA regime suffered with crude surging to $130-140 levels a barrel. Since then, times have changed. Modi doesn’t have that kind of oil luck any more Why a Windfall Oil Tax Isn't the Solution to High Fuel Prices. It is unfortunate that both the NDA and UPA governments treat PSU oil companies as their convenient ATMs. Oil bonds were issued by the UPA government when fuel prices were regulated. By doing so, the government shielded customers and domestic businesses from the vagaries of the global market for crude

21 Sep 2018 Oil Bonds were issued by all the previous governments till 2010 when the petrol price was deregulated. Even the previous NDA government 

24 May 2018 BJP says the annual hike in petrol was higher during UPA rule. Fuel prices are primarily dependent on two factors: price of crude oil in the This takes into account the value of Indian rupee versus the US dollar. We have  23 May 2018 NDA vs UPA: Saga of fluctuating fuel prices and shifting narratives - The global tailwinds and high state taxes for driving up crude oil prices. 27 Feb 2019 Modi has been critical of volatility in international oil price and urging for “ responsible pricing” to meet the needs of importers and exporters of oil. 10 Sep 2018 The BJP Twitter handle explains the “Truth of hike in petroleum prices” 2018, there is a 28 per cent hike compared to 83.7 per cent under the UPA by including the Indian Basket Crude Oil prices for the respective years. 12 Sep 2018 Modi's oil taxes are undoubtedly higher than Manmohan Singh's, but keep in NDA-2 tenure—street prices rose 20.5% between NDA-1 and UPA-1, 75.8% that crude oil prices fell dramatically during this period; the 13% hike in the UPA was able to not pass on all the oil price hikes to consumers was 

Nagaraj responds to this claim, reasserting the validity of the methodology used. In her article “On UPA vs NDA; Gujarat vs Rest of India: Myth and Reality,”  8 Sep 2018 New Delhi: Retail petrol price hit Rs 80.38 a litre in Delhi on Saturday, in the national capital, at 6.9% higher compared to the price that prevailed on July 4. The transformation from UPA's “policy paralysis” to the NDA's “fastest be an impact of about $17 a barrel on the benchmark Brent crude price. 1 Jan 2015 NDA administration has retained the previous UPA government's January 2014 Figure 2: INR/USD exchange rate and price of crude oil basket (August ( representing the difference between the cost price incurred by the  22 May 2018 It is only in comparison to the dismal record of UPA 2 that the NDA May 2014: Modi Govt. begins term Global crude oil price hovered around  During the past 14 years, the price of crude oil was the lowest in 2004 when the UPA came to power. Back then, crude oil was around USD 25 a barrel and petrol price in Delhi was Rs 33 per litre. In 2011, the crude oil peaked at around USD 112 per barrel and the retail price of petrol in Delhi then was Rs 65.76 per litre. The narrative gaining traction is that while the UPA II, it was the government subsidising fuel prices, now it’s the retail customers paying for the government. Analysts have made the point that crude oils prices now are $80 a barrel in 2009, whereas in 2009 it was $120 barrel after peaking at $147.3 at barrel. More importantly, the NDA government continues to push the burden of capex on extra-budgetary resources, with internal and extra budgetary resources (IEBR) rising to Rs 6 trillion in FY20, from less than Rs 3 trillion in FY14 under the UPA dispensation.