Modi will address the nation before the dawn of the New Year. The address will likely happen at 7.30 p.m. on Saturday.
Modi last addressed the nation on November 8 to announce demonetisation of old Rs 500 and Rs 1,000 notes to root out corruption and black money from the country.
According to sources, the Prime Minister may speak on demonetisation in his address.
After demonetisation, Modi had said: "Help me for 50 days and I will give you the India you desired."
Opposition parties have attacked the Centre over the implementation of the move, with a few choosing to oppose it altogether.