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.
Kerala elections: PM Modi said this while referring to Jesus Christ
Palakkad: Addressing an election rally in Palakkad today, ahead of the assembly elections on 6 Ap
In Udaipur, Rajasthan, a man was slit to death for supporting Nupur Sharma's controversial statem
On Wednesday, due to the opposing stance of four opposition-ruled states on the question of givin
Pat Cummins gave Kolkata Knight Riders a thumping win over Mumbai Indians with scintillating inni
The house of Dr. Umar Un Nabi, the terrorist who carried out the Red Fort blast, has been demolis
More than 100 world leaders are about to discuss a formidable problem that scientists call Earth'
PM Modi's Appeal To The Countrymen On Corona, You Need 9 Minutes At 9 pm On April 5
new Delhi,. Prime Minister Narendra Modi addressed the country for the third time on Friday (thre
Two attempt suicide at Delhi Metro stations
New Delhi, Jan 15 (IANS) Two people were critically injured when they tried to commit suicide at
In Sunakadkatte, Karnataka's capital Bengaluru, mischievous elements have written sorry in red pa
Will Rohit Sharma and Virat Kohli be given farewell in Australia? BCCI finally breaks silence
Board of Control for Cricket in India (BCCI) Vice President Rajeev Shukla has put an end to specu
