We crafted turnaround of Air India, BSNL, Shipping Corp: PM Modi
Prime Minister Narendra Modi on Monday made a veiled attack on the previous governments and said state-owned enterprises were set up to fail or to sell them out.
New Delhi: Prime Minister Narendra Modi on Monday said his government had managed not only to change people`s mindsets towards state-run enterprises but also helped companies like Air India, BSNL and Shipping Corp to make operational profits.
"Air India was notorious for incurring losses. My government succeeded in bringing Air India back to a situation where it is logging operational profits," Modi said in his Independence Day address from the Red Fort.
"Public sector companies were always seen as ones that make losses and eventually close down. We changed this mindset. We managed to bring several public sector companies out of the woods," he said.
Taking another example, that of Bharat Sanchar Nigam Ltd (BSNL), Modi said: "Globally, when telecom companies were making profits, BSNL was in a deep pit. But under our government, this company has also managed to report operational profit."
He said that in the case of Shipping Corp of India, no one thought it could ever make profits.