It's raining reforms: Corporate India lauds; political parties slam

After facing months of scathing criticism from media and financial institutions on his government’s policy paralysis, Dr Manmohan Singh braved the might of UPA allies and the Opposition to announce a series of big bang reforms, beginning with a diesel price hike followed by allowing foreign direct investment (FDI) in multi-brand retail and power exchanges as well as relaxing the norms on FDI in aviation and broadcasting. While Corporate India applauded, negative reaction has started flowing in from various political parties slamming the move.