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.
The world-famous Rath Yatra of Mahaprabhu is being celebrated with full enthusiasm in Jagannath D
Seema Haider, who crossed the border of Pakistan and entered India via Nepal, has now also got a
Mumbai Indians defeated Punjab Kings by six wickets in IPL 2023 on Wednesday. Mumbai achieved the
PM Modi on Farmers: PM Modi's statement came amid the farmers' movement, and spoke from his heart
PM Modi on Farmers Farmers of Punjab and Haryana are agitating demanding a law on MSP. Meanwhile,
AAP complains to poll panel against Bedi
New Delhi, Feb 7 (IANS) The AAP urged the Election Commission to act against BJP's chief minist
Khushboo Patani: Khushboo got angry over the comment against Aniruddhacharya, warned of legal action
In the case of commenting against spiritual guru Premananda Maharaj, now actress Disha Patani's s
The Indian team is currently busy preparing for the Champions Trophy tournament starting on Febru
Samantha Ruth Prabhu and Naga Chaitanya are the famous stars of South Indian cinema. Both were on
Former Pakistan Prime Minister Imran Khan is seen praising India since he came to power. On Satur
Bigg Boss 19: 'She is of Kunika's age ...', Tanya Mittal made such a comment on Malti Chahar's age
The controversial reality show Bigg Boss 19 (Bigg Boss 19) was already having a lot of drama, and
