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.
Ask CBI to probe Karnataka IAS officer's death
Agartala, March 21 (IANS) The IAS association's Tripura branch on Saturday demanded a CBI probe
BAFTA 2024 Deepika Padukone Saree Look: Bollywood's superstar actress Deepika Padukone wins the h
Letter to Modi's Imran: Will the doors of both countries open?
Indian Prime Minister Narendra Modi sent a letter to Pakistani Prime Minister Imran Khan on Pakis
Maharashtra will face lockdown? Important meeting of CM Uddhav, 1 lakh cases received in three days
An important decision may be taken today by the state government to curb the growing cases of Cor
Virat Kohli, who was criticized for clashing with Sam Constas on the field, showed amazing sports
Prime Minister Narendra Modi will blow the bugle for the Delhi assembly elections on Friday. The
Bengal business meet nets over Rs.2.4 lakh crore, promises one crore jobs (Roundup)
Kolkata, Jan 8 (IANS) Attracting a financial commitment of over Rs.2.4 lakh crore, and promisin
The outbreak of measles disease is increasing rapidly in Mumbai, the capital of Maharashtra, whic
Strength at the military level is very essential for any nation. There is no doubt in the fact th
Micromax IN 1 will compete with Realme and Xiaomi in terms of entry, price, and features in India
In the budget segment, a lot of smartphones will be seen in India at this time. This is a segment
