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

UK Board Result 2024: This year UK Board 10th-12th result is special; All records are about to be broken

UBSE UK Board Results 2024: The wait of more than 2 lakh students of Uttarakhand Board class

Kejriwal government gave one crore rupees each to the families of the workers who lost their lives due to Covid

The Delhi government on Thursday provided financial assistance of Rs one crore each to the famili

NEET UG 2022: Daughters ahead in the race to become doctors, 10.64 lakh girls out of 18.72 lakh

NEET UG Exam 2022: National Testing Agency has successfully conducted the NEET UG exam in 543 exa

93 thousand infected in 24 hours, 95 thousand were cured, 232 were cured more than new patients for the sixth time in a day; Total 53 lakh cases so far

92 thousand 969 corona were found infected in the country on Friday. However, it was a relief tha

Sushma Swaraj meets Maldivian counterpart

New Delhi, Feb 15 (IANS) External Affairs Minister Sushma Swaraj and her Maldivian counterpart

The boom of Ola Electric Scooter: 4 scooters sold every 1 second, the company earned more than 600 crores in 2 months from this

With the opening of bookings on July 15, Ola's electronic scooter had a banging entry. Within 24

'They knew my past before marriage' that's why chose death... TCS manager's wife's WhatsApp chat reveals

TCS company manager Manav Sharma's parents and sister are shocked by his suicide. He is demanding

Saleh's statement: IS-K's relationship with Taliban and Haqqani network, terrorists present in Pakistan's shelter are plotting

Amrullah Saleh, who declared himself the caretaker president of Afghanistan, on Friday targeted t

Corona virus treatment in country in 6 months if everything goes well: Cipla

Cipla, an Indian pharmaceutical company that is planning to treat health problems, especially bre

PM Modi convened a meeting of the Council of Ministers, the discussion started to overcome the epidemic

Prime Minister Narendra Modi has called a meeting of his entire cabinet on Friday to take measure

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