Congress Criticizes Modi Over Falling PSU Stocks, Claims Privatization Agenda

Congress leaders Jairam Ramesh and Rahul Gandhi criticize Prime Minister Narendra Modi over recent declines in PSU stocks, accusing the government of misleading the public and pushing a privatization agenda. Claims highlight government intent on handing national assets to select capitalists, amid falling intrinsic values of public sector firms.

In a sharp rebuke, Congress MP Jairam Ramesh has criticized Prime Minister Narendra Modi on social media platform X regarding the recent decline in Public Sector Undertaking (PSU) stocks. Ramesh pointed out that, despite Modi's previous claims of booming PSU stock values as evidence of government support, the stock values have significantly dropped.

Accusing the Modi administration of misleading the public, Ramesh asserted that investors now recognize the prime minister's claims as largely unfounded. He stated that intrinsic stock values, significantly eroded over the past decade, are being exposed.

Ramesh further alleged that the Modi government's agenda involves dismantling the public sector, favoring privatization for select capitalists. Echoing this sentiment, Congress leader Rahul Gandhi has criticized privatization efforts, arguing that the government is intent on privatizing even profitable PSUs and transferring national assets to a select group.

(With inputs from agencies.)