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.
Reliance Industries bought UK country club Stoke Park, know the special things related to this deal
Mukesh Ambani-led Reliance Industries has announced the purchase of Britain's iconic country club
A big statement of Harbhajan Singh has come out after retiring from international cricket. The fo
RBI GDP Growth: RBI increased India's economic growth forecast, GDP can be affected by this
The announcement of the new monetary policy by the Reserve Bank of India (RBI), has increased the
World Bicycle Day: Don't play with your health this lockdown, buy a budget bicycle and stay fit
With World Bicycle Day being celebrated around the world today, people wanting to make face masks
Rajya Sabha to work overtime to finish pending business
New Delhi, March 14 (IANS) The Rajya Sabha will sit beyond its scheduled time next week to comp
Prime Minister Narendra Modi's mother Heeraba Modi passed away on Friday. When the marriage took
UP CM Yogi Adityanath has told the need to maintain balance in population along with efforts to c
The Garud commandos of the Indian Air Force, which have proven their mettle in anti-terrorist ope
Kicha Sudeep sure, someone third was involved in the tweet-war on Hindi from Ajay Devgan
The statements of movie actors regarding the Hindi language have been in discussion for the past
There can be any international cricket match in any corner of the world and any team in the world
