PM likely to give message on FDI today

New Delhi: Prime Minister Manmohan Singh is likely to explain to the nation on Friday the reason behind allowing FDI in retail sector and the benefits it would entail.

The Prime Minister’s explanation could be in the form of a written message or a televised address, sources said.

Singh is expected to spell out the reasons that prompted the government to allow FDI in multi-brand retail.

After 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.

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

UPA’s outside allies like Samajwadi Party and JD-S as well as opposition parties are also agitated over the decision and organised nationwide agitations on Thursday.

In his address, the Prime Minister is also likely to explain the reason behind the hike in diesel prices citing under recovery by oil marketing companies.

He could also put forth the government’s stand on capping the number of LPG cylinders to six per annum.

Singh would also touch upon various economic reforms being pushed by the UPA government.
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