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Manmohan Singh to meet India Inc on August 1

27 Jul 2012 Evaluate

With given political obligation taking toll over much needed government’s reforms, Prime Minister Manmohan Singh will meet India Inc on August 1, to take on board the methods for improving the investment climate. This would be the first meeting between the industry leaders and the current Prime Minister, which has taken an additional charge of the finance ministry under its hat as on June 26 until the successor is named.

Showing the sign of slowing global economy, foreign direct investment (FDI) in India extended its decline in May with inflows slipping to $1.32 billion from $4.66 billion in the same month last year. The meeting is broadly expected to take up macro-economic and slowing investments issues.

The meeting comes in light of the expectations of a push in reforms, especially FDI in multi-brand retail and aviation and the deregulation of diesel prices, however, not much is expected to be happen before the vice presidential polls, which would be a day ahead of Parliament session is scheduled.

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