Finance Minister Nirmala Sitharaman refuted opposition claims of public sector enterprises being in disarray, stating that the government’s efforts to revive them have borne fruit. She highlighted an 87% growth in their combined net profit from Rs 1.29 lakh crore in 2013-14 to Rs 2.41 lakh crore in 2022-23. Sitharaman contrasted adverse conditions faced by PSUs during the Congress-led UPA government with the current scenario, citing a remarkable turnaround in entities like Hindustan Aeronautics Limited (HAL). She attributed the success to PM Modi’s leadership, infusion of professionalism, and increased operational freedom. Sitharaman emphasized strategic management, capital expenditure focus, and infrastructure development, fostering growth and sustainability. PSBs have recovered from banking crises, with GNPA falling to 3.2% and record profits. PSUs under Modi’s government have shown remarkable growth.
FM Dismisses Opposition Claim, Credits Modi Govt Policies for PSU Resurgence
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