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.
Lenovo launches Lenovo Yoga AIO 7 PC with powerful performance, know its features and price
Lenovo Yoga AIO 7 Price: Lenovo has introduced Yoga AIO 7 as its latest desktop PC in India. For
Oil companies have released the prices of petrol and diesel for today. Today companies have not m
Leader of Opposition Rahul Gandhi on Sunday said Manipur Chief Minister N Biren Singh had to resi
The first Test between India and South Africa is being played in Centurion. The first day's play
India tour of England 2022: India has to play the only Test match against England from July 1 and
CTET Answer Key 2023: CBSE can release the CTET answer key on this day, check the date
CTET 2023 Answer Key: There is a useful update for the candidates who appeared in the recently co
UK becomes the first country to approve vaccine after three-phase trial, Pfizer gets approval
Britain has become the first country in the world to approve a corona vaccine that has gone throu
Prabhas' mega budget film 'Kalki 2898 AD' has continued its strong performance and has achieved a
Amid the Russia-Ukraine war, India's Permanent Representative to the United Nations Ruchira Kambo
Nitish won't seek vote if power situation doesn't improve
Patna, March 22 (IANS) Bihar Chief Minister Nitish Kumar on Sunday said he will not seek votes
