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SARASIJ'S BLOG

NEWS & VIEWS|||SARASIJ|||08--11-2026

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  NEWS & VIEWS|||SARASIJ|||08--11-2026 SUNDAY| VOL—IV/2026/NOVEMBER OPINIONATED, FOR FREE CIRCULATION. ||“ॐ श्री महा कालिकायै नमः”|| Best wishes on ‘diwali’,‘deepavali’ & ‘kali puja’.   NEWS OF THE DAY: Residents of more than 10 villages around the Vellode Bird Sanctuary in Tamil Nadu’s Erode district are celebrating a cracker-free Deepavali for the 20th straight year so that nesting birds are not disturbed. The 240-acre sanctuary hosts painted storks, pelicans, and migratory birds from as far as Siberia between October and March. INDIA: (GOI, SWARAJYA, VISHWAMITRA, HINDU POST, INDIA TODAY). President Smt Droupadi Murmu greeted citizens in India and abroad on the eve of Diwali PM Shri Narendra Modi extended Diwali greetings in a video message, saying the festival of lights reflects the resolve to overcome darkness, and said he would continue his tradition of celebrating Diwali with the country’s soldiers. Vice-President Shri C.P. Radhakrishnan atten...

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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