
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.
Former Indian captain Rohit Sharma's bat performed well during the Australia tour, proving his wo
Bihar Election: Why did violence happen in Durga idol immersion before voting in Munger?
Munger, immersed in the euphoria of Durga Puja, will wither away before the voting date, hardly a
Arsenic-hit Bengal village adopts French model for safe water
Kolkata, Feb 2 (IANS) Thanks to an innovative French technology that purifies contaminated wate
Gautam Adani has become the third richest person in the world. With a net worth of $137 billion,
Kangana Ranaut again taunted Karan Johar said- Your Hindi has improved now, see what happens next
The war between Kangana Ranaut and Karan Johar has intensified. After the reply from the filmmake
Delhi HC Questions Centre over Illegal Construction
New Delhi, Feb 11 (IANS) The Delhi High Court Wednesday asked the central government and a Delh
Not clear if Pushkar was murdered: Congress
New Delhi, Jan 6 (IANS) The Congress Tuesday said it was not yet clear whether Sunanda Pushkar,
Justice DY Chandrachud will be the 50th CJI of the country. CJI UU Lalit has recommended his name
Politics has now started regarding the violence that took place during the survey of the mosque i
Modi Greets Meghalaya, Tripura, Manipur on Statehood Day
New Delhi, Jan 21 (IANS) Prime Minister Narendra Modi Wednesday greeted the people of Meghalaya,