PM to address the nation on FDI tonight

PM to address the nation on FDI tonight

Prime Minister Manmohan Singh will address the nation tonight to explain the government's recent decisions on economic reforms which have triggered widespread political protests across the country.

The Prime Minister will address the nation at 8 PM on Doordarshan about the recent decisions on economic reforms, officials said.

Singh is expected to spell out the reasons that prompted the government to allow FDI in multi-brand retail, hike in diesel prices and put a cap on subsidy on LPG cylinders.

He is likely to cite the difficult times facing the economy and emphasise that the steps were taken to push economic growth and generate employment.

The thrust of the Prime Minister's message is expected to be that the decisions were taken in national interest.

In the Cabinet decision on September 14, Singh had said the step was intended to "bolster economic growth and make India a more attractive destination" for foreign investment.

"I believe that these steps will help strengthen our growth process and generate employment in these difficult times," he had said and sought support of "all segments of public opinion" for this.

The decision to go ahead with FDI in multi-brand retail has evoked angry reactions from Trinamool Congress which has decided to quit the UPA government.

UPA's outside allies like Samajwadi Party and JD-S as well as opposition parties are also agitated over the decision and had organised a nationwide bandh yesterday.

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