Congress Criticizes Modi Over Plummeting PSU Share Values

The Congress party is criticizing Prime Minister Narendra Modi over the drop in public sector unit (PSU) share values, accusing the government of dismantling public sectors for a few beneficiaries. Stocks of India's public sector companies have seen a significant decline, contrary to past government claims.

The Congress party has launched a scathing attack on Prime Minister Narendra Modi, accusing him of making 'bogus' claims regarding public sector unit (PSU) shares. According to Congress, the values of these shares are plummeting, and the losses reveal the deterioration occurring over the last decade.

Congress general secretary Jairam Ramesh insists that Modi's government is intentionally dismantling the public sector to benefit favored companies. He criticized Modi for previously boasting about increased PSU stock values, which have since drastically declined, contradicting the claims of support for the public sector.

Citing a media report, Ramesh highlighted a 30 percent drop in PSU stocks from last year's peaks—a stark contrast to the 13 percent overall dip in the Sensex. The Congress also noted recent declines in key market indices, with substantial drops affecting the BSE index and NSE Nifty.