Indian PM pushes ahead with reforms

<p>India’s prime minister is pushing ahead with a set of reforms designed to stimulate economic growth.</p>

The prime minister of India is pushing ahead with a new agenda of reforms as the government prepares to sign off the latest batch of measures designed to open up the economy.

Manmohan Singh is intent on taking further steps to revive the country, in spite of fierce resistance from opposition parties threatening to try and bring down the coalition in the next parliamentary session.

The prime minister and his finance minister have stressed the need to revitalise investment both at home and overseas to get India's economy on the move again following a slump in gross domestic product growth.

Mr Singh's cabinet is due to approve foreign direct investment in the pensions and insurance industries, following similar action taken in the broadcasting, aviation and retail sectors in September.

At 10:20 BST this morning (October 4th), the Mumbai Stock Exchange Sensitive Index was up by one per cent to an index value of 19067.9 points.

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