SARASIJ'S BLOG

OIL BOND: ‘A DARK FINANCIAL LEGACY’

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  OIL BOND: ‘A DARK FINANCIAL LEGACY’ SARASIJ MAJUMDER In March 2026, India completed the final repayment of its long out‑standing OIL BOND obligations, a cumulative ₹3.23 lakh crore liability that had stretched beyond two decades over multiple governments. With this last payment, a major legacy burden on the nation’s finances has finally been removed. But, before discussing ‘OIL BOND’, let us review the Global Oil Scenario of the first decade of 21 st   century. BACKGROUND: Global crude oil prices experienced a dramatic surge between 2005 and 2010—peaking near $147 a barrel in July 2008 before a sharp recessionary drop and subsequent recovery—driven by a "perfect storm" of rapid demand growth, limited supply, and financial speculation. KEY FACTORS CAUSING THE SURGE : Soaring Demand from Emerging Markets: Rapid economic expansion in China drove massive demand for transportation and industrial energy. China accounted for roughly 40% of the world's oil demand ...
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COMPARISON BETWEEN 2014—2019—2024

HOW ELECTION ISSUES CHANGED

SARASIJ MAJUMDER

2014:

  • There was a huge wave in people wanting a change in GOVERNMENT.
  • Gujarat C.M. Modi was P.M. face of B.J.P. and was new to National Politics.
  • The NDA had fewer powerful allies.
  • AAP was contesting elections from many seats.
  • Modi faced scrutiny for the 2002 Gujarat riots.
  • Parties were focused on their ideologies.
  • Inflation was a very big topic.
  • Opinion polls didn't clearly predict NDA's victory.
  • The competition included Rahul, Mayawati, Mulayam, Mamata, etc. as p.m. FACE.
  • Nationalism wasn't a major discussion.
  • Congress's manifesto seemed in tune with Indian values.
  • Many Muslims had negative views of Modi.
  • UPA was suffering from Policy Paralysis.
  • SCAMS were everywhere, though not fully exposed.
  • RESULT BJP—Majority achieved. NDA Formed Government.

2019:

  • There was minimal anti-incumbency.
  • Modi was then a veteran in national politics.
  • The NDA has more powerful allies.
  • AAP was contesting from fewer seats.
  • The focus was on defeating Modi, not on party ideologies.
  • Inflation, LOW, and was not a significant topic.
  • Opinion polls showed  NDA winning easily.
  • The contest was often framed as Modi vs All.
  • Nationalism was a prominent discussion.
  • Some view Congress's manifesto skeptically.
  • Some educated Muslims developed a positive outlook on Modi.
  • BJP was contesting on more seats than Congress.
  • Modi's rally in Varanasi drew attention in April 2019.
  • RESULT:- BJP enhanced it’s number of seats. NDA formed Government CONSECUTIVELY.

2024

·         Anti-incumbency enhanced in some States, where Non-NDA Governments are in power.

·         INDIA handled COVID Pandemic quite successfully.

·         Major corruption got revealed in West Bengal, and Jharkhand, involving state governments.

·         RAM MANDIR  is constructed, and worship started.

·         Article 370 is revoked.

·         Tripple Talaq bill passed, and is now act.

·         Mr. Modi is now the most favourite International Leader.

·         INDIA hold G-20 Summits very successfully.

·         OPPOSITION clubbed together, and formed I.N.D.I.A.

·         CRACKS in I.N.D.I.A. widens as election progresses. Some partners left, and joined NDA.

·         AAP leaders are in JAIL. Their influence in North India is almost zero.

·         Threat from China is a prominent issue.

·         Khalistan, with support from CANADA posed a challenge.

·         HINDUS are more conscious of their rights.

·         Still the Election will be a contest between MODI VERSUS OPPONENTS.

·         BJP has formed DEPENABLE ALLIANCES—but they are politically weak in Bihar, and Maharashtra.

·         South India is looking positive to BJP for the first time. SEATS will be gained.

·         West Bengal will produce much better poll result for BJP.

ra·         USA—CANADA--EURO—CHINA & PAKISTAN are trying to create problem inside India, e.g. in Manipur, Kashmir, Arunachal… etc so that NDA is troubled.

·         DYNASTY  is in alliance with Muslims, and Anti—India International states to defeat Mr. Modi.

·         INTERNATIONAL MEDIA has targeted BJP, & MODI.

·        EXIT POLL & SATTA BAZAR concluded BJP/NDA will form government for the third time.

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