Decline in growth rate has bottomed-out: Jaitley


Posted on 9th Jan 2015 01:21 pm by mohit kumar

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.

Did you know?Explore Trending and Topic pages for more stories like this.
0 Like 0 Dislike
Previous news Next news
Other news

Indian Oil Bihar Refinery to Raise Capacity to 9 MTPA

Barauni (Bihar), Jan 19 (IANS) The capacity of the 50-year old Barauni refinery will be raised

Omicron Variant: 99% of Omicron patients are recovering in seven days, then why are doctors alert.

The cases of corona infection are increasing rapidly again across the country. In the last 24 hou

The first picture of Sidhu Moosewala's younger brother came out, parents shared it, know what is his name?

The family of late Punjabi singer Sidhu Moosewala is once again in the headlines. Sidhu Moosewala

Virat may return in the third test: Coach Dravid gave a big update on Kohli's injury, said- Captain looks fit

After India's defeat in the second test match against South Africa, now the big news is coming ou

ISRO studying easy path to navigation satellite's problem transmitter

Chennai, March 6 (IANS) The Indian space agency is deliberating the ways and means of setting r

Begin: Rahul Gandhi's election rally in Bengal today, why not know in the first four phases?

Four-phase voting has been held for the West Bengal elections and Congress MP Rahul Gandhi is goi

Tricolor insulted in Canada: Khalistani supporters trampled the national flag with their feet, also raised anti-India slogans

A disgusting act of Khalistan supporters has come to the fore in Canada. While shouting Khalistan

Chase the biggest target of 328 runs in Australia, Rishabh-Siraj snatches the series from the hosts

Team India made history by defeating Australia by 3 wickets in the Brisbane Test. India chased th

High court notice to the makers of Sushant Rajput's biopic, father demands ban

A notice has been issued by the Delhi High Court to the makers who made a biopic on the life of l

President Donald Trump defends 1 million cases of corona virus in America, says - more testing than other countries

US President Donald Trump has defended the case of the Corona virus-infected patients crossing th

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash