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

What did you get in Budget 2022: Everyone was disappointed on Income Tax; But the Finance Minister said – Tax has not been increased for two years, what is this less…

The wave of expectations was defeated and Nirmala Sitharaman also presented the budget. Said 1 ho

Trump On Ceasefire: '12 hours of complete ceasefire'; Trump said- War ends after Israel-Iran's final missions..

On June 13, Israel carried out rapid attacks on Iran's nuclear bases. After this, the confrontati

Wildlife Corridor Established on UP-Uttarakhand Border: A New Destination for Tourists—Boasting a Wealth of Attractions.

The Delhi-Dehradun Expressway stands as an unparalleled example of the balance between developmen

Yellow rust partially hits wheat crop in Himachal

Shimla, March 31 (IANS) A fungal disease called yellow rust, caused by the untimely heavy rainf

CM Arvind Kejriwal PC: CM Kejriwal said - 'An atmosphere is being created in the country against providing facilities to the public for free

Arvind Kejriwal on Free Scheme: Delhi Chief Minister Arvind Kejriwal has given a big statement ab

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

Covid-19: Construction of Kashi Vishwanath Dham started amidst social distance

The construction work of Kashi Vishwanath Dham has started from Monday amidst social distancing.

Fringe elements orchestrating 'Gharvapsi' reined in: Kiran Bedi

New Delhi, Jan 24 (IANS) BJP's chief ministerial candidate in Delhi, Kiran Bedi has said fringe

Prakash Padukone's opinion on Indo-Pak match: Former veteran said - do not mix sports and politics together; The demand to cancel the match is rising continuously

Former Indian badminton player Prakash Padukone believes that the T20 World Cup match between the

IT Raid: Raids on 25 locations, including former fund manager, over 55 crore undeclared assets seized

The Income Tax Department has seized over Rs 55 crore of undeclared assets by raiding the premise

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