India saved Rs 30,000 crore due to import of crude oil from Russia : MP in Lok Sabha

'The European Union also advised us not to purchase crude from Russia. Still, we bought crude from Russia,' BJP MP Shivkumar Udasi said

BJP Lok Sabha Member from Haveri, Shivkumar Udasi has said the Central Government saved Rs 30,000 crore due to import of crude oil from Russia.

"The EU (European Union) also advised us not to purchase crude from Russia. Still, we bought crude from Russia. I have an estimation that India has saved to the tune of Rs. 30,000 crore...," he said while participating in the debate on the first batch of Supplementary Demands for Grants 2022-23 in Lok Sabha.

“Opposition parties at least at this stage, to be part of the country and support Prime Minister Narendra Modi when he is saving a lot of money and also putting the same money for nation building works,” he appealed.

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Appreciating the Central government for reducing duties on oil, he said, “the Government on its part made two significant cuts in excise duties on petrol and diesel in November 2021 and May 2022. A combination of steps, including diversification of crude sources, reduction of Central levies on retail prices and additional taxes on exports, has ensured stable, affordable and secure fuel supplies in the country.”

While the world saw a huge rise in the prices of petrol and diesel, the Indian consumers were completely isolated from it by the Oil Marketing Companies as they did not
pass on the hike in retail prices, and took the hit on them instead and started having huge under-recoveries and cash losses, he said.

"If you look at the economic scenario across the globe, all the countries are having low growth. India is one country which is having a very good rate of growth in economy, which is because of the firm leadership of Prime Minister Narendra Modi,” he said.