During the No-Confidence Motion debate in Parliament on August 10, Prime Minister Narendra Modi said in jest that stocks of India’s public sector companies are good to invest in, keeping in mind the robust numbers these stocks have delivered.
The Prime Minister cited the examples of Hindustan Aeronautics Limited (HAL) and Life Insurance Corporation (LIC) of India, two enterprises that were criticised by the Opposition in the past. On LIC’s mega IPO and listing, he said, “They said many things about LIC that the money of the poor will sink but today LIC is getting stronger.”
The Prime Minister added that Union Defence Minister Rajnath Singh also spoke about HAL, saying that the Opposition had falsely claimed that HAL had been destroyed. “The workers of HAL were instigated that they will lose their jobs. Today, HAL is touching the new heights of success. It has registered its highest ever revenues this year,” he said in Lok Sabha during the No-Confidence Motion speech.