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.
America is ready to welcome Indian Prime Minister Narendra Modi. Meanwhile, President Joe Biden's
Umpire communication in World Cup knockouts to be aired
Sydney, March 17 (IANS) The International Cricket Council (ICC) said on Tuesday that TV umpire
Yogi Adityanath's government in Uttar Pradesh will help girls become self-reliant by giving them
There is a rapid decline in the number of active cases of corona in the country, ie, patients und
In the last 24 hours, 3,377 new cases of corona infection have been reported in India. This is th
New cases of corona are steadily decreasing. On Sunday, 56 thousand 520 cases came, 66 thousand 4
Boris Johnson's Claim on Putin Former UK Prime Minister Boris Johnson has made a big disclosure t
The Developed India - Guarantee for Employment and Livelihood Mission (Rural) Bill 2025, also kno
Pakistan itself, which gives shelter to terrorists, is currently struggling with terrorist activi
It has been almost 15 months since Joe Biden became the US President. He is from the same Democra
