
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.
“We are facing a situation akin to war. Our supplies of crude oil, LPG, and LNG have been d
Coronavirus Update: Corona cases continue to rise in the country, new cases cross 10 thousand
The process of increasing the cases of Coronavirus in the country is going on once again. In the
On the very first day of the Parliament session, Congress and other opposition parties expressed
8th story from New Delhi. (Bhanwar Jangid). Within two months of the lockdown, Delhi's heartbeats
Modi covered 200 km from Kevadia to Sabarmati in 40 minutes
Today is the second day of Prime Minister Narendra Modi's visit to Gujarat. Modi launched the cou
The heat of the ongoing war between Russia and Ukraine since February is now reaching India as we
Odisha to set up more Abortion Centres
Bhubaneswar, Jan 30 (IANS) Acknowledging that maternal mortality rate in Odisha is quite higher
AAP sacks Bhushan, Yadav from top body
New Delhi, March 4 (IANS) The AAP announced Wednesday that it had ousted two top leaders, Prash
Asked Jayanthi Natarajan to Protect Environment: Rahul Gandhi
New Delhi, Feb 4 (IANS) Congress vice president Rahul Gandhi Wednesday said he asked the then e
Jayanthi Natarajan quits Congress
New Delhi, Jan 30 (IANS) Senior Congress leader and former environment minister Jayanthi Nataraj