Which of the following statements is/are correct with reference to the oil bonds?
A. Before fuel prices were deregulated, petrol and diesel as well as cooking gas and kerosene were sold at subsidised rates.
B. The Centre has argued that it cannot reduce taxes on petrol and diesel as it has to bear the burden of payments in lieu of oil bonds issued by the previous UPA government to subsidise fuel prices.
C. Both A & B
D. None of these
Explanation:
The Centre has argued that it cannot reduce taxes on petrol and diesel as it has to bear the burden of payments in lieu of oil bonds issued by the previous UPA government to subsidise fuel prices. Before fuel prices were deregulated, petrol and diesel as well as cooking gas and kerosene were sold at subsidised rates during UPA rule.
