🎯 What are oil bonds?
Oil bonds are special debt instruments that were issued by the UPA government to oil marketing companies (OMCs) in place of a cash subsidy between 2005 and 2010. Since the oil companies were not free to fix their own price for petrol (before 2010) and diesel (before 2014), they were at times selling fuel below the international market price. To compensate for this loss, the companies received cash subsidies from the government.
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