Prime Minister Narendra Modi touts the success of Public Sector Undertakings (PSUs) in his parliamentary address, defending the government's revitalization efforts.
In a recent parliamentary session, Prime Minister Narendra Modi addressed the Motion of Thanks to the President's Address, highlighting the positive performance of Public Sector Undertakings (PSUs) in India. The Prime Minister noted that PSU shares are currently yielding good returns, signaling an improvement in people's confidence in these investments.
Modi shared key statistics, revealing that the net worth of PSU companies has surged to over Rs 17 lakh crore, compared to Rs 9.5 lakh crore in 2014. Over the past decade, the number of PSUs has increased from 234 to 254, with profits reaching Rs 2.5 lakh crore.
The Prime Minister responded to criticisms from the Congress, asserting that his government has successfully revitalised struggling PSUs. He questioned the Congress party's role in the decline of entities like BSNL and MTNL, pointing out positive developments such as BSNL's progress towards Made in India 4G and 5G. Modi emphasised the turnaround of Hindustan Aeronautics (HAL), which is now Asia's largest helicopter manufacturing factory.
Additionally, Modi launched a scathing attack on the Congress, stating that the party has become outdated and has always been against various forms of reservation. He cited a letter from Jawaharlal Nehru to chief ministers, indicating Nehru's opposition to job reservations. Modi expressed sympathy for the Congress party's decline but criticized its historical approach to democracy and reservations.
Previously, Congress general secretary Jairam Ramesh accused Modi of endangering public sector undertakings, including the Rourkela Steel Plant (RSP). Ramesh claimed that the BJP government, under Modi's leadership, is selling off PSUs created by previous Congress governments. He highlighted the economic importance of Rourkela and criticised BJP's policies for putting major projects like RSP, Nalco, and NTPC at risk. Ramesh called for a new economic model focused on small industries, opposing blind privatization, and reviving PSUs.
Ramesh also raised concerns about unemployment in Odisha, claiming that 40 percent of youth are not engaged in studies, and over 1 lakh government posts remain vacant. He criticised the migration of over 30 lakh people from Odisha to other states in search of jobs. Additionally, Ramesh accused the ruling BJD and opposition BJP in Odisha of engaging in "shadow boxing," describing them as two sides of the same coin.