M-cap of 81 listed PSUs has grown 225% under Modi govt: FM
market cap of all 81 listed public sector undertakings (PSUs) has grown by 225% under the Narendra Modi-led NDA government, while 79% returns by Nifty CPSE have significantly outpaced Nifty 500 and Nifty 50 indices, Finance Minister Nirmala Sitharaman said in a tweet on Wednesday.
Sitharaman was responding to what she called charges by the Indian National Congress (INC) and its leader Rahul Gandhi that PSUs were being dismantled and were in disarray under the Modi regime.
«Repeated claims from the @INCIndia ecosystem and @RahulGandhi in particular that Public Sector Undertakings (PSUs) are being dismantled & are in disarray under the current government are a textbook example of 'Ulta Chor Kotwal Ko Daante,' as the facts reveal a very different picture,» FM said on her official Twitter handle.
According to Sitharaman 62 CPSEs, 12 PSBs, 3 public sector insurance companies, and IDBI Bank have seen their market capitalisations grow by 225%. NIFTY CPSE outperformed NIFTY 500 and NIFTY 50, which have given 27.4% and 22.5% returns, respectively.
Sitharaman added the PSUs have suffered under the Congress-led UPA government and were previously neglected. She said that companies such as Hindustan Aeronautics Limited (HAL), have seen a resurgence under the Modi Government.
HAL has delivered multibagger returns of a whopping 1,000% in the last five years
She claimed that PSUs are thriving and benefiting «significantly from the culture of professionalism infused in them along with increased operational freedom». Modi
