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.
The T20 World Cup-2022 has started touching the sky in terms of adventure as well as its debut. I
GST controversy from flour to curd, Nirmala Sitharaman answered everything
The issue of imposition of GST on everyday items like curd, lassi, atta, and gram flour has gaine
The Indian Air Force has received 56,960 applications under the Agneepath Recruitment Scheme. The
Pollution has increased significantly in the capital Delhi for the last several days. Meanwhile,
Guwahati-Bikaner Express Train accident: There has been a train accident in Domohani, Jalpaiguri.
On the first day of the Boxing Day match being played between India and Australia in Melbourne, a
Vivek Ramaswamy, the Republican presidential candidate in America, has said today that America is
Joe Biden's rating is falling, these five challenges are standing in front
American boxer Mike Tyson has a very popular saying that "everyone has some plan before getting p
Bihar SIR Row: Hearing on petitions challenging SIR in Bihar; Supreme Court will hear the case today
The apex court will hear today the petitions challenging the Election Commission's move to the SI
The final report of the polygraph test of the Shraddha murder case accused Aftab Amin Poonawalla
