Where can one get data related to oil bonds in the budget documents?`
Hi Malini,
Below is a text from an article that appeared in ‘The Print’ (URL: https://theprint.in/economy/what-are-upa-era-oil-bonds-modi-govt-says-are-preventing-it-from-reducing-fuel-prices/681952/ )
“These types of bonds (oil bonds) are considered to be ‘below the line’ expenditure in the Union budget and do not have a bearing on that year’s fiscal deficit, but they do increase the government’s overall debt. However, interest payments and repayment of these bonds become a part of the fiscal deficit calculations in future years.”
This indicates that such data may not be available in budget documents.
Some future estimates on oil bonds are available in the image below.
Source: https://www.thehindubusinessline.com/economy/upa-legacy-leaves-modi-govt-bonded-to-oil-psus/article34833933.ece
Regards,
Jyotsna
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Thanks a lot, Jyotsna!
As the article you have quoted says interest payments and repayment of these bonds become a part of the fiscal deficit calculations in future years, I am sure these show up in budget documents.
These should show up in the Receipts budget, but I wanted someone to confirm that.
Thank you so much once again for your inputs.
Dear Malini,
Sources of information on oil bods from budget documents could be
1a. Tax Revenue budget available under Receipt Budget. For example, the image below provides information on crude oil cess. (Source: https://www.indiabudget.gov.in/doc/rec/tr.pdf)
1b. Non-Tax Revenue budget in Receipt Budget of Union Government. For example, the image below provides data on non- tax receipts from oil, gas and coal companies. (Source: https://www.indiabudget.gov.in/doc/rec/ntr.pdf)
- Another source of information could be the Expenditure Budget of Ministry of Petroleum and Natural Gas (MOPNG) (Source: https://www.indiabudget.gov.in/doc/eb/sbe75.pdf)
However one needs to search for the functional guidelines of few budgeted items in the MOPNG Budget like this for deeper understanding;
Hope this helps!
Best wishes!
Jyotsna
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Once again, thanks a lot, Jyotsna!
Dear Malini,
In addition to the sources of information shared above, the Statement on Assets and Liabilities under Receipt Budget also provides information on Special Securities Issued to Oil Marketing Companies in lieu of Cash Subsidy
Hope this helps!
regards,
Jyotsna
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Hi Jyotsna,
Yes, this helps, because I think this is the data I was looking for.
Thanks a lot!
Best wishes, Malini