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NEWS & VIEWS|||SARASIJ|||01-10-2026

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  NEWS & VIEWS|||SARASIJ|||01-10-2026 THURSDAY| VOL—IV/2026 /OCTOBER OPINIONATED, FOR FREE CIRCULATION. सर्वं परवशं दुःखं सर्वमात्मवशं सुखम्। एतद् विद्यात् समासेन लक्षणं सुखदुःखयोः॥ sarva ṃ parava ś a ṃ du ḥ kha ṃ sarvam ā tmava ś a ṃ sukham। Everything that is in other’s control may be painful. All that is in self-control is happiness. This is the definition of happiness and pain in short. INDIA: (GOI, SWARAJYA, VISHWAMITRA, HINDU POST, INDIA TODAY). Prime Minister Narendra Modi will participate in the Centenary Celebrations of the Union Public Service Commission (UPSC) today at Bharat Mandapam in New Delhi. He will also address the gathering on the occasion. New Delhi will host a textile conclave today to discuss emerging technologies in the textile sector.   Union Textile Minister Giriraj Singh will inaugurate the conclave. The National Highways Authority of India, or NHAI, is conducting special quality inspections of 17 under-construction National...

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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