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

IRCTC Cracks Down on Fake Food Delivery Networks: 14 Unauthorized Apps & Websites Shut Down to Protect Train Passengers

In a major move aimed at protecting railway passengers from food fraud and cybercrime, the Indian

Kunal Kamra Row: Habitat Studio made a big decision after the vandalism, Kunal Kamra had given a controversial statement

Habitat Studio has decided on Monday that it is closing its studio for the time being. This is th

TDP leader's statement regarding demands in Modi Government 3.0, he also said this about Muslim reservation

NDA has chosen Narendra Modi as its leader. He can take oath as PM on 9th June at 6 pm. This time

Diljit Dosanjh gave a tribute to Sidhu Moosewala, said – there are many who separate, we Punjabis have to live together

Diljit Dosanjh recently gave a tribute to Sidhu Moosewala. Diljit has given this tribute during h

'Remove inflation' rally: Congress will take out a rally in Delhi on December 12 against inflation, Sonia-Rahul will address the gathering

Against the rising inflation in the country, Congress has made a strategy to surround the Modi go

Honda Motorcycle to expand Karnataka plant

Chennai, March 27 (IANS) Two-wheeler major Honda Motorcycle and Scooter India on Friday said it

The danger of sticky bombs causing havoc on Amarnath Yatra: jawans increased by one and a half times, if attacked from the sky, wiped out in the air

The pilgrimage to Baba Amarnath, situated at an altitude of 3,888 meters, is at risk of a sticky

Lymphatic Filariasis: Health Minister said – Elimination of Lymphatic Filariasis disease is the priority of the government

Union Health Minister Mansukh Mandaviya said on Friday that Lymphatic Filariasis (Elephant Foot)

Pakistan's entry in UP elections: Sambit Patra said – whoever loves Jinnah, how should he deny Pakistan, Akhilesh would have given ticket to Yakub Memon too

BJP's national spokesperson Sambit Patra held a press conference in Lucknow on Monday. He attacke

Israel-Hamas Conflict: Indian woman injured in Hamas attack on Israel, 10 Nepali citizens killed

An Indian woman is also among those injured in the Hamas terrorist attack on Israel. The woman is

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