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

Manu Bhaker returned to India with two medals, received a grand welcome at Delhi airport with drums and trumpets

Women's shooter Manu Bhaker, who won the first medal for India in the Paris Olympics 2024, return

What is the meaning of the visit of the Chinese Foreign Minister to India after the controversial statement on Jammu and Kashmir?

"We are listening to the voices of many Islamic friends on the issue of Kashmir, China has the sa

UWW: Will UWW change the weight measurement rules after the Vinesh Phogat case? Decision on the silver medal may come by this evening

The Paris Olympics have ended, but Indian wrestler Vinesh Phogat is still waiting for justice. Sh

Vijay Hazare Trophy: 15 fours and 8 sixes... Dhruv Jurel smashes his first List A century.

Indian wicketkeeper-batsman Dhruv Jurel has scored his first List A century. In the third-round m

Auto service of Ola, Uber, and Rapido banned in Karnataka from today, complaint was made for higher fares

The Karnataka government has made the online booking of autorickshaws illegal on ride-hailing app

Yoga fever has taken over the world: America is also enthusiastic; thousands of people performed yoga at Times Square in New York

The enthusiasm of the 10th International Yoga Day is being seen from the country to abroad. A dif

OnePlus cheap phone will be pre-booking today, will compete with Redmi 9A

New Delhi: Smartphone company OnePlus is organizing a launch event called 'New Beginnings'. In th

Supreme Court: 'Supreme' challenge given to some provisions of Places of Worship Special Provisions Act; CJI's bench will hear today

The Supreme Court will hear on Thursday a batch of PILs challenging the validity of certain provi

Swati Maliwal Case: '...on the contrary, the thief scolded the policeman', JP Nadda's attack on Kejriwal; Said- Delhi CM has been exposed

Launching a strong attack on Aam Aadmi Party and Delhi Chief Minister Arvind Kejri

Both need a victory to stay in the tournament, Rajasthan sixth and Hyderabad at number 7

The 40th match of the 13th season of IPL will be played between Rajasthan Royals (RR) and Sunrise

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