Union Finance Minister Niramala Sitharaman vehemently rebutted senior Congress leader Rahul Gandhi’s recent criticisms of Hindustan Aeronautics Limited (HAL), labeling them as baseless and malicious attacks. She highlighted the remarkable performance of HAL under Prime Minister Narendra Modi’s tenure, citing an astonishing 1,370% increase in market valuation in just four years, soaring from Rs 17,398 crore in 2020 to Rs 2.5 lakh crore as of May 7.
Sitharaman emphasized HAL’s impressive achievements, including its record-breaking revenue of over Rs 29,810 crore for FY 2023-24 and a robust order book exceeding Rs 94,000 crore. She contended that these figures contradict Gandhi’s claims of HAL’s weakening, asserting instead that the institution is undergoing significant fortification.
Contrary to Gandhi’s allegations, Sitharaman blamed the Congress party for neglecting institutions like HAL during their tenure, leading to India’s reliance on imports rather than fostering indigenous capabilities. She credited the resurgence of previously neglected PSUs, such as HAL, to the policies of the Modi government.
Sitharaman further criticized the historical approach of the Congress party, accusing it of lacking faith in Indian scientists and engineers and perpetuating India’s reputation as the world’s largest arms importer. She contrasted this with the Modi government’s efforts to transform India into an arms exporter, fueled by increased defense spending and a commitment to self-reliance in defense production.
The Finance Minister also addressed Gandhi’s claims regarding job losses post-disinvestment, citing examples such as Air India’s privatization. She highlighted the government’s efforts to safeguard employee interests during the disinvestment process and noted the positive outcomes, including significant growth in employment opportunities and improvements in operational efficiency.
Sitharaman concluded by dismissing all of the Congress party’s and Rahul Gandhi’s claims concerning PSUs as baseless, citing evidence of their turnaround under the Modi government’s policies.