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

Jhumpa Lahiri wins 2015 DSC Prize for South Asian Literature

Jaipur, Jan 22 (IANS) The 2015 DSC Prize for South Asian Literature has been awarded to Jhumpa L

Agnipath Recruitment: You will be able to apply for Agnipath recruitment in Air Force from this date, know the whole process

There is good news for the candidates who wish to devote themselves to the service of the country

Heatwave Action Plan Implemented in Delhi: Work Suspended for Laborers from 12 PM to 3 PM; 'Cool Rooms' Prepared in Hospitals

In view of the rising temperatures and the severe heatwave situation in the capital, Chief Minist

West Bengal Sports Minister Arup Biswas resigns after controversy surrounding Lionel Messi's event.

Political activity has intensified in West Bengal over the Messi incident. The state's Sports Min

HAL Share Price: Government is going to sell a stake in defense company HAL, minimum price of one share will be Rs 2450

HAL Stake Sale: The government will sell up to a 3.5 percent stake in Hindustan Aeronautics Limit

Rajya Sabha member Manorama Sharma is dead

Gurgaon, Feb 18 (IANS) Congress leader and Rajya Sabha member from Uttarakhand Manorama Dobriya

Salaar Day 12 Box Office Report: The buzz about the earnings of Prabhas's 'Salaar' continues, this is the collection on the 12th day

Salaar Day 12 Collection In India: Veteran South Cinema filmmaker Prashant Neel's most awaited mo

PM summons Delhi Police chief over school attack

New Delhi, Feb 13 (IANS) Prime Minister Narendra Modi Friday summoned Delhi Police chief B.S. B

How dangerous is CT-Scan to detect corona? AIIMS director Randeep Guleria told

New Delhi: Amid increasing cases of the corona, a large number of people are undergoing CT scans.

Trump will meet his friend, Modi, the meeting may take place in Washington next month; what issues will be discussed?

Diplomats from India and the US are trying to organize a meeting between Prime Minister Narendra

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