Congress destroyed HAL and Air India, people's confidence now improving in PSU shares: PM Modi
The Prime Minister said the “Congress made silly, baseless and negative statements about LIC and other PSUs”, adding, “It is the Congress which destroyed the PSUs instead."
Prime Minister Narendra Modi on Wednesday came down heavily on the Congress in the Rajya Sabha for “spreading lies and fake information” about LIC, saying that “the opposition spread rumours about LIC, but today its shares are trading at record high price".
The Prime Minister said the “Congress made silly, baseless and negative statements about LIC and other PSUs”, adding, “It is the Congress which destroyed the PSUs instead."
“It is the old habit of the Congress to misrepresent facts and create confusion,” said Modi while replying to the Motion of Thanks on the President's Address in the Rajya Sabha on Wednesday. Hitting out at the Congress, the Prime Minister said that public sector undertaking (PSU) shares are giving good returns now.
People's confidence is improving in PSU shares, the Prime Minister said, as he shared some key facts and inputs in the Upper House to buttress his views that LIC and HAL are making progress in what contradicts the claims of the opposition that these PSUs are in bad shape.
Modi's candid reply assumes significance in the light of Congress leader Rahul Gandhi's allegations last year that the LIC was “forced to make investments to save the Adani Group, putting people's life savings in danger”. The Adani Group had then outright dismissed the allegations as baseless.
Congress' “fake” campaign on this issue was seen as the grand old party's attempt of fear-mongering about LIC investments. Now, the PM has made it clear that LIC is soaring high in what comes as a strong rebuttal of Congress' allegations.
Similarly, ahead of the 2019 Lok Sabha elections, Rahul Gandhi had run a campaign against Modi, accusing him of “weakening” HAL to help his “suit-boot” friend. In fact, the Congress was alleging that the government favoured an industrialist friend over HAL in the Rafale jet deal.
The Prime Minister's reply in the Rajya Sabha exposed the Congress' “fake campaign” and "blatant lies" on the issue of PSUs being weakened by the government.
“I was born in an 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 and UPA cannot run away from their failures,” the PM said.
He further explained how HAL is now showing record revenue generation and has become Asia's largest helicopter manufacturing factory.
Catch the latest stock market updates here. For all other news related to business, politics, tech, sports, and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
Top Gold ETF vs Top Large Cap Mutual Fund 10-year Return Calculator: Which has given higher return on Rs 11 lakh investment; see calculations
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
09:31 PM IST