Finance Minister Nirmala Sitharaman on Tuesday attributed the fuel price hikes to disruptions in global oil markets over the past ‘couple of weeks’ due to the war in Ukraine, and said the government has an ‘honest’ approach towards oil prices unlike the UPA which relied on oil bonds.
The minister also said she expects the Wholesale Price Inflation to moderate in the coming year, while responding to the debate on the Finance Bill and Appropriation Bill of 2022 in the Rajya Sabha. The Upper House of Parliament returned the two Bills, completing the Budget 2022-23 exercise.
“I am tempted to talk about the oil prices. Just one line will probably explain it. We are dealing with a situation arising out of the global war-like situation. It was said that the war has been raging for a time and you didn’t raise it at that time, now you are raising it,” Ms. Sitharaman said in an 80-odd minute reply to points raised by MPs.
