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Modi blamed past Congress-led government for 1.48 lakh crore oil bonds, now over 3 lakh crore with interest, and said his government is resolving the debt.
Prime Minister Narendra Modi, speaking at the TV9 Network Summit on March 23, 2026, accused the Congress-led UPA government of issuing oil bonds worth 1.48 lakh crore rupees between 2004 and 2010, a move he said burdened future generations with debt that has grown to over 3 lakh crore rupees due to interest.
He claimed his government has worked to resolve this fiscal legacy, calling the effort a necessary financial "wash." Modi emphasized India’s resilience amid global challenges, including the West Asia conflict and post-pandemic disruptions, highlighting the country’s growing partnerships across the Global South, Gulf, and Western nations.
He reaffirmed India’s commitment to peace, dialogue, and national interests, crediting unity and strong governance for the nation’s steady progress.
Modi culpó al gobierno anterior liderado por el Congreso por 1.48 lakh crore de bonos petroleros, ahora más de 3 lakhs crore con intereses, y dijo que su gobierno está resolviendo la deuda.