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

America, Britain, France, and Italy... these countries came out openly in support of Israel; What will happen to Hamas now?

Israel has officially declared war after the attack by terrorist organization Hamas. After the ma

Virat Kohli celebrated his victory with his wife, Anushka Sharma, after scoring a century, with beautiful pictures that won hearts.

Bollywood actress Anushka Sharma and Indian cricketer Virat Kohli are considered one of the count

Parliament Session 2024: The President also spoke on the paper leak case, and mentioned it during the address in Parliament

President Draupadi Murmu gave her first address in Parliament after the formation of the NDA gove

Chandrayaan-3: Scientists reached Tirupati Venkatachalapati temple before the launch of Chandrayaan-3, worshiped for the success of the mission

Indian Space Research Institute (ISRO) is going to launch Chandrayaan-3 soon. A team of ISRO scie

The Bengal Files: Anupam Kher appeals to people to watch Bengal Files, wishes the makers on the release

Vivek Agnihotri's upcoming film 'The Bengal Files', which was in the news even before its release

RG Kar Doctor Case: Will Sanjay Roy get life imprisonment or a death sentence? The court will pronounce the sentence on the culprit in the RG Kar case in the afternoon.

The sentence will be announced today in the RG Kar case of Kolkata, the capital of West Bengal. A

Karnataka government angry with Kamal Haasan's statement, actor's films may be banned.

Kamal Haasan's controversial statement on Kannada language has created a storm in Karnataka. Karn

Adani Row: 'If Modi and Adani are together, then they are safe', Rahul Gandhi made allegations, raised demand for the arrest of the industrialist

Congress leader Rahul Gandhi made serious allegations in a press conference on Thursday on the co

UP Government unveils Development Agenda for 2015-16

Lucknow, Feb 11 (IANS) The Uttar Pradesh government Wednesday unveiled the 'development agenda'

Microsoft Outage: The turmoil in the world due to the global outage has an impact on the market, CrowdStrike shares fell

Shares of cybersecurity firm CrowdStrike closed with a big drop on Friday. The drop was recorded

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