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.
High court notice to the makers of Sushant Rajput's biopic, father demands ban
A notice has been issued by the Delhi High Court to the makers who made a biopic on the life of l
Culture Ministry accepts Mani Shankar Aiyar's Resignation
New Delhi, Feb 27 (IANS) The union culture ministry Friday said that they have accepted resigna
Thousands of crores of rupees trapped in lockdown
The lockdown to prevent coronavirus has broken the business back. In order to bring the economy b
Coronavirus: 265 people died in a day in the country, 7964 cases were reported in 24 hours
New Delhi: The deadly corona virus outbreak is increasing in the country. In the last 24 hours, 2
Japanese Prime Minister Fumio Kishida on Saturday expressed displeasure over China's activities i
Bharatiya Kisan Sangh (BKS) will protest against the central government at Delhi's Ramlila Maidan
Swine flu hits UP legislator, Lucknow reports 228 cases
Lucknow, Feb 23 (IANS) Thirty new cases of swine flu -- including a legislator of the ruling Sa
Kejriwal Visits Temples, Gurudwaras ahead of Polling
New Delhi, Feb 6 (IANS) A day before Delhi goes to the polls, AAP leader Arvind Kejriwal Friday
On his birthday, Samay Raina took a big step and apologized on social media for his actions.
Stand-up comedian Samay Raina is celebrating his birthday today. On this occasion, he apologized
Delhi Police is working day and night in the Shraddha Walker murder case. For the third consecuti
