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.
Pakistan's Supreme Court's decision - Contempt proceedings against Imran will continue
The Supreme Court of Pakistan on Tuesday allowed the Election Commission (ECP) to proceed against
India is facing a second wave of Corona these days. There is a state of outcry in the whole count
Pakistan's Punjab province is suffering from air pollution these days. Given the ever-increasing
India and Iraq held the second round of Foreign Office Consultations in Baghdad on Monday. The In
After recently launching its Nokia C02 smartphone in the market, HMD Global has now launched two
Muslim quota meet in Pune Refused use of ground
Pune, Feb 2 (IANS) Police Monday refused permission to a proposed Muslim conference on reservat
India's veteran spinner Ravichandran Ashwin surprised everyone by suddenly retiring on Wednesday.
Pune, Jan 2 (IANS) Senior scientist Vasant R. Gowarikar, who was a former space agency chief an
Faisal Malik, who was looking for the right path for himself in Mumbai by becoming an assistant a
On May 7, India carried out Operation Sindoor in Pakistan and PoK, after which Pakistan tried to
