PSU shares are giving good returns now: PM Narendra Modi

Prime Minister Narendra Modi while replying to the Motion of Thanks to the President's Address in Rajya Sabha said Public Sector Undertakings (PSU) shares are giving good returns now. He further mentioned that people's confidence is improving in PSU shares.

PSU net worth

Comparing the net worth of PSU shares in 2014, he said that the worth has raised to Rs 17 lakh crore. In 2014, there were 234 PSUs and today after 10 years we have 254 PSUs, their profits have risen to Rs 2.5 lakh crore, he added.

Also Read: LIC surpasses SBI to emerge as most valuable PSU with a ₹5.8 lakh crore market cap

He also took a dig at Congress saying the party destroyed Hindustan Aeronautics and Air India. He further added that BSNL is now moveing towards Made in India 4G and 5G, while HAL is showing record revenue generation

"I was born in independent India and my dreams are independent. Congress said we sold PSUs and destroyed them. I want to ask them who destroyed BSNL and MTNL? Recall the state of Hindustan Aeronautics under Congress. They destroyed HAL and Air India. Congress party and UPA cannot run away from their failure. Today, the BSNL that you destroyed in it is moving towards Made in India 4G and 5G. HAL is showing record revenue generation and it has become Asia's largest helicopter manufacturing factory. We have turned around the story. Today LIC's shares are breaking records," said PM Modi.