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

Alarm bells: Research made the world sleepy, AI made 40 thousand chemical weapons in six hours

Artificial Intelligence (AI) has been used for a long time in search engines, social media platfo

Oxfam: Billionaires' wealth increased by ₹3608 crore every day since Covid started, but 'poor' paid more GST

India's richest one percent of people have more than 40 percent of the country's total wealth, wh

Petrol Diesel Price Today : Oil companies released the prices of petrol and diesel, know the prices of your city

Petrol Diesel Price: Oil companies have released the prices of petrol and diesel for today. Today

Budget 2025: 'There should be a discussion on the stampede in Maha Kumbh...', SP created a ruckus before the budget speech, Lok Sabha Speaker said this

Samajwadi Party MPs created a ruckus over the stampede in Mahakumbh before the budget speech. Sam

Maharashtra Election Exit Poll: BJP is going to make the biggest record in Maharashtra after 2014, Congress seats are less than last time

This time BJP's stature seems to be getting bigger in Maharashtra politics. According to the exit

SC to Examine case for Separate Investigation Cadre in Police

New Delhi, Jan 13 (IANS) The Supreme Court Tuesday embarked on examining the desirability of ha

Himachal Pradesh becomes Manual Scavenging-free

New Delhi, Feb 18 (IANS) Himachal Pradesh has become free of manual scavenging, Social Justice

RR vs RCB: How to watch the eliminator match between Rajasthan vs Bengaluru for free at home, know complete details here

At the end of the league phase of IPL 2024, an eliminator match will be played between

Vedanta Aluminium Shares Set for a Big Rally? Stock at ₹462 as Brokerages See Target Above ₹500

Shares of Vedanta Aluminium Metal Limited (VAML) gained strong momentum on July 31 after the comp

Russia Ukraine War: Russian Foreign Minister Sergei Lavrov coming to India amid the war with Ukraine, know what is its big meaning

Russian Foreign Minister Sergei Lavrov is visiting India today amid the ongoing war with Ukraine.

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