Finance Minister Niramala Sitharaman rebuked senior Congress leader Rahul Gandhi for what she labeled as a "deliberate assault" on Hindustan Aeronautics Limited (HAL), a prominent public sector enterprise.
Sitharaman refuted Gandhi's assertions of HAL's underperformance, citing a staggering surge in its market value during Prime Minister Narendra Modi's tenure. She highlighted a remarkable growth of 1,370 per cent, soaring from Rs 17,398 crore in 2020 to a substantial Rs 2.5 lakh crore as of May 7.
"HAL recently announced record-breaking revenue exceeding Rs 29,810 crore for FY 2023-24, coupled with a robust order book exceeding Rs 94,000 crore. These statistics hardly depict a weakened institution but rather one on a trajectory of significant reinforcement," Sitharaman emphasized.
Contrary to Gandhi's narrative, Sitharaman blamed the Congress party for India's reliance on imports instead of empowering indigenous institutions like HAL.
"Under the UPA Government, PSUs like HAL were neglected, but they have experienced a resurgence under the Modi government," she asserted.
Sitharaman criticized the Congress for its historical lack of confidence in India's scientists and engineers, resulting in a heavy dependency on imports, making India the world's largest arms importer for years. She credited PM Modi's administration for the shift towards self-reliance in defense manufacturing, transforming India into an arms exporter.
Highlighting increased defense spending and the pursuit of self-reliance in defense, Sitharaman credited this approach for the growth of PSUs like BEL, HAL, and Mazagon Dock. India reported arms exports worth Rs 21,000 crore in FY 2023-24, signaling the government's trust in scientists and engineers, contrasting with Congress' approach.
Sitharaman cited the example of Air India to counter Gandhi's claims about job losses post-disinvestment, emphasizing that there was a transparent process with safeguards for employees. She noted a notable improvement in Air India's operations post-privatization, with significant growth in employment opportunities.
"Claims by the Congress and Rahul Gandhi regarding PSUs lack substance and are baseless," Sitharaman concluded.
Read also | EC Reports 61.45% Voter Turnout in Third Phase as Lok Sabha Polls Reach Halfway Mark
