In May 2014, the total market capitalisation of PSUs was Rs 19.1 lakh crore, but by 28 October 2020, they had lost Rs 6.9 lakh crore. Since all companies on BSE together nearly doubled their value, the relative loss should be Rs 21 lakh cr. The 7 largest PSU Crown Jewels are valued below their book value. In episode 605 of ThePrint's #CutTheClutter, Shekhar Gupta explains why the Modi government’s reform test is nigh.
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