New Delhi, Jan 8 (IANS) The slowdown in the growth rate has tapered out and the economy will recover further because of falling inflation and a favourable external environment, Finance Minister Arun Jaitley said Thursday.
"Emerging trends indicate the growth deceleration in India has bottomed-out. Significant downward trend in inflation has also been recorded in the second and third quarter of 2014-15," he said at a pre-budget meeting here with social sector representatives.
The external environment has also largely turned in India's favour, Jaitley said, according to a finance ministry release.
"Domestic policies to achieve macro-economic balance and the on-going process of economic reforms would lend further strength to the recovery of the economy," he said.
Falling crude oil prices in the international market have come as a breather for the government, he added.
Jaitley also said that apart from ongoing schemes and programmes for the marginalised and vulnerable sections of the society, the government has initiated various special social sector programmes.
It has given a thrust to skills development and the Make in India programmes to improve employability and create more job avenues, he added.
The finance minister, who will present the budget for 2015-16 next month, received various suggestions from social sector groups, including immediate steps to prevent diversion of funds meant for Dalits and tribals, which will make available about Rs.30,000 crore for their development and proper implementation of the Prevention of Domestic Violence against Women Act.
Other suggestions include implementation of a national competition policy to push growth onto a higher trajectory, and adoption of a public procurement law to curb corruption, the statement said.
'Understand 'PK' context before commenting'
Kolkata, Jan 2 (IANS) With Aamir Khan-starrer "PK" facing protests from Hindu rightwing groups alleging that it defames Hindu religion, a religious leader Friday said one must first examine the
Indians would rather spend on shoes, not books: Publisher Ashok Chopra
New Delhi, March 22 (IANS) The Indian publishing industry is keeping the written word alive in different formats but the gradual decline in readership is posing many challenges for the industry.
Indian Air Force will participate in Exercise Cobra Warrior, United Kingdom will send these fighter jets including Mirage
Exercise Cobra Warrior: An Indian Air Force contingent comprising 145 air warriors today departed from Air Force Station Jamnagar to participate in Exercise Cobra Warrior at Royal Air Force's
China COVID Outbreak: Omicron's BA.5.2 and BF.7 sub-variants wreaking havoc in China: WHO
The World Health Organization (WHO) informed on Wednesday that according to data released by China, people in China are getting infected only by Omicron's sub-variants BA.5.2 and BF.7. According to
This special smartwatch launched in India compared to Realme will fit in the budget with new features
To challenge Realme, Molife has launched its new slim and stylish smartwatch Sense 320 in India. The price of this smartwatch is Rs 2,799 (Black Strap) and Rs 2,999 (Limited Edition with Premium
T20 WC: Rohit Sharma's eyes moist, the captain was seen crying in the dugout after losing to England!
Indian captain Rohit Sharma is seen crying in the dugout after losing to England in the semi-final of the T20 World Cup 2022. The captain's eyes were moist after this humiliating defeat. Batting first
Pakistan Crisis: Is Pakistan going to be in the same condition as Sri Lanka? Inflation at a decade high
Like Sri Lanka, our neighboring country Pakistan is also going through a period of serious economic crisis. According to media reports, the inflation rate in Pakistan is at the highest level in the
UP: 'Do not run a bulldozer on any poor's hut shop, CM Yogi's instructions to the officers
UP Chief Minister Yogi Adityanath has given strict instructions to the officers not to run bulldozers on any poor's hut and shop. Drive the bulldozer only on the illegal property of professional
Republic Day Celebrated in Tamil Nadu
Chennai, Jan 26 (IANS) Tamil Nadu celebrated the 66th Republic Day with patriotic fervour Monday with Governor K. Rosaiah unfurling the national flag at the Marina beach here.Rosaiah also took the
Handpicked Hotel Staff to look after Obama
New Delhi, Jan 21 (IANS) ITC Maurya has hand-picked a team of 50 expert staff who will look after US President Barack Obama and his wife Michelle during their three-day stay at the super luxury