according to Prime Minister Narendra Modi, The net worth of PSU companies has increased from Rs 9.5 lakh crore in 2014 to more than Rs 17 lakh crore in 2024.
PM Modi highlighted the performance of PSU in stock market
Public Sector Undertakings (PSUs) have been a crucial part of India’s economic development since independence. These government-owned corporations have played a pivotal role in various sectors, contributing significantly to the nation’s growth and development. Despite facing challenges and undergoing transformations over the years, PSUs have exhibited remarkable resilience and adaptability. This article delves into the evolution, significance, challenges, and the ongoing relevance of PSUs in shaping India’s economic landscape. The government’s emphasis on the ‘Atmanirbhar Bharat’ (Self-reliant India) initiative underscores the importance of PSUs in promoting indigenous manufacturing and reducing dependency on imports.
Public Sector Undertakings in India have been instrumental in shaping the nation’s economic landscape, contributing significantly to industrialization, employment generation, and infrastructure development. Despite facing challenges, PSUs have displayed resilience and adaptability, evolving to meet the changing needs of the economy. As India strives for economic self-reliance and global competitiveness, the role of PSUs remains pivotal, and their continued evolution and modernization will play a crucial role in defining the trajectory of India’s economic growth.
- PSU Shares and Performance:
- Prime Minister Modi noted that Public Sector Undertakings (PSU) shares are currently providing good returns, indicating an improvement in people’s confidence in them.
- The net worth of PSU companies has increased from Rs 9.5 lakh crore in 2014 to more than Rs 17 lakh crore.
- The number of PSUs has grown from 234 in 2014 to 254, with profits reaching Rs 2.5 lakh crore.
- Transformation of BSNL, MTNL, and HAL:
- Modi criticized the Congress for allegedly destroying BSNL and MTNL and highlighted that BSNL is now progressing towards adopting Made in India 4G and 5G technology.
- He mentioned the turnaround of Hindustan Aeronautics Limited (HAL), which has become Asia’s largest helicopter manufacturing factory with record revenue generation.
- Congress and Reservation Policies:
- Modi launched a scathing attack on the Congress, stating that the party has become outdated and always opposed reservation policies.
- He referred to a letter written by Jawaharlal Nehru to chief ministers, claiming that Nehru was against reservations, especially in jobs, as it adversely affected the government’s functioning.
- Modi accused Congress of being against Dalits, backward classes, and tribals.
- Democratic Processes and Sympathy for Congress:
- Modi accused the Congress of strangling democracy for power and mentioned the dismissal of democratically elected governments by the party.
- Despite his criticism, he expressed sympathy for the downfall of the Congress party, stating that their thought has become outdated, and they have outsourced their work.
- Focus on Addressing Society’s Issues:
- Modi highlighted President Droupadi Murmu’s address in Parliament, emphasizing the government’s commitment to solving the problems of the poor, farmers, youth, and women.
PM Modi Lambasts Congress, Accusing It of Obsolescence and Anti-Reservation Stance
During a recent address, Prime Minister Narendra Modi launched a scathing attack on the Congress, claiming that the party has become outdated and has always opposed reservation policies. He alleged that the Congress has “outsourced” its work and expressed sympathy over its decline. Modi cited a letter written by Jawaharlal Nehru to chief ministers, stating that the first prime minister was against reservation, especially in jobs In summary.
Prime Minister Modi used the occasion to showcase his government’s achievements, particularly in the economic sector, while criticizing the Congress party for alleged shortcomings in various policy areas.
People’s confidence improving in PSU shares, he said while speaking about his government’s performance since 2014.
PM said President Droupadi Murmu, in her address in Parliament, talked about solving the problems of the 3 largest sections of society — the poor, farmers, the youth and women.
