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.
On Sirisena visit, India, Sri Lanka ink civil nuclear agreement
New Delhi, Feb 16 (IANS) India and close neighbour Sri Lanka Monday sought to begin a new chapt
Dunki: Connection of 'Dunki' with 'Jawan', Shah Rukh Khan unveils his character in the film?
Shah Rukh Khan On Dunki Trailer: Shah Rukh Khan, who has given explosive films like 'Pathan and J
Himachal clash: Virbhadra Singh's son gets anticipatory bail
Shimla, Jan 31 (IANS) Himachal Pradesh Chief Minister Virbhadra Singh's son Vikramaditya Singh,
Now Finland and Sweden are also seen moving on the same path over which such a big war broke out
There is tremendous tension on the Pakistan-Afghanistan border. After Sunday, there was firing fr
A big decision on the Karnataka hijab controversy may come before Supreme Court judge Justice Hem
Amidst the fast-growing cases of Coronavirus in the country, Union Health Minister Dr. Harsh Vard
Delhi Police to work closely with AAP government: Rajnath
New Delhi, Feb 16 (IANS) Home Minister Rajnath Singh Monday said he had asked the Delhi Police
IDF World Dairy Summit 2022: Prime Minister Narendra Modi in his address after inaugurating the W
BJP leaders in Madhya Pradesh are chanting Mahamrityunjaya Mantra in temples to pray for the long
