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.
US doctors have done a great job of transplanting a genetically modified pig's heart into the bod
After some members of the Lok Sabha raised slogans during the oath, Speaker Om Birla amended the
The International Monetary Fund (IMF) has cut India's economic growth forecast. However, an IMF o
The investigation into the rape and murder of a female doctor at Kolkata's RG Kar Medical College
Ban on Wheat Export: Wheat is not cheaper than export ban, only 54 paise relief in 12 days
Despite the ban on the export of wheat, its prices in the domestic market are not coming down. Wh
Xiaomi may announce the date of launch of Mi 11 Lite in India today, know price and specification
Xiaomi Mi 11 Lite launch date: Xiaomi, the famous Chinese smartphone maker, can announce the date
80 Indians flying out of Yemen capital: MEA
New Delhi, March 28 (IANS) Eighty Indian nationals are being evacuated from unrest-hit Yemen by
The 3-day Pravasi Bharatiya Sammelan concluded on Tuesday in Indore. On the last day of the event
When the whole world was busy controlling the coronavirus, in the meantime his attention was dive
The United Kisan Morcha and other farmer organizations have called a Mahapanchayat at Delhi's Jan
