PM to address nation on FDI in retail and other reforms

September 21st, 2012 - 4:55 pm ICT by IANS  

New Delhi, Sep 21 (IANS) Prime Minister Manmohan Singh will address the nation Friday night to explain why his government is going forward with economic reforms, especially allowing overseas investment in retail and aviation.

The prime minister will address the nation at 8 p.m. on Doordarshan about last week’s decisions on economic reforms, the Prime Minister’s Office (PMO) said on the micro-blogging site Twitter.

The government’s decisions have created political turmoil in the country with a key ally Trinamool Congress pulling out of the ruling United Progressive Alliance and opposition parties, both from political right and left, demanding a rollback.

Addressing a full Planning Commission meeting last Saturday, Singh had said that the government’s policy initiatives such as the hike in diesel price and other long-delayed reforms were aimed at reining in widening fiscal deficit, reviving investor sentiment and economic growth.

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