The combined market cap of 81 listed Public Sector Undertakings (PSUs) including banks and insurance companies has grown by 225% in the last three years, aided by the government’s higher capital expenditure, better capital management and professionalism, finance minister Nirmala Sitharaman said on Wednesday.

In a rebuttal to Congress and Rahul Gandhi’s claim that PSUs are being “dismantled” and are in disarray under the Modi government, in a post on ‘X’, Sitharaman said the facts reveal a very different picture.”

PSUs which suffered and were neglected by the Congress-led UPA government, such as Hindustan Aeronautics Limited (HAL), have seen a resurgence under the Modi government, she said.

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