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

Arvind Kejriwal Bail: ED reaches High Court against CM Arvind Kejriwal's bail, demands immediate hearing

The ED has moved the Delhi High Court against the trial court's order granting bail to Delhi CM A

45,000 Personnel, 15,000 Cameras to Keep Watch on R-Day

New Delhi, Jan 20 (IANS) Delhi Police is installing 15,000 CCTV cameras as part of security arr

What is the intention of dictator Kim Jong Un? North Korea fired 17 missiles in one day

South Korea has claimed that its neighbor North Korea fired a total of 17 missiles one after the

Big announcement of PM Modi, grand statue of Netaji Subhash Chandra Bose will be installed at India Gate

PM Modi has made a big announcement amid the controversy over the decision to merge Amar Jawan Jy

Reforms in Food Subsidy to Reduce Inflationary Pressures: Moody's

Chennai, Jan 29 (IANS) Global credit rating agency Moody's Investor Service Thursday said the r

India Coronavirus Cases: In the last 24 hours, the number of infected has come down to 15,786, deaths have increased, Kerala's effect is visible

There has been a decrease in the new cases of corona reported in India on Friday. Another major r

Sam Pitroda: 'China is not our enemy', Congress leader Sam Pitroda in controversy again; BJP surrounds him

Congress's foreign unit chief Sam Pitroda has sparked a new controversy by making a claim. He sai

Bengaluru company develops technology for IAF

Kolkata, Jan 4 (IANS) Bengaluru-based aero-defence equipment maker Radel Advanced Technology (R

Haryana receives 17,000 complaints at CM's window

Gurgaon, Feb 4 (IANS) Haryana Chief Minister Manohar Lal Wednesday said said that till now abou

Himani Murder: 'No affair... no pressure of marriage, were just friends'; New twist in Congress leader Himani murder case

There has been a new twist in the murder of Congress worker Himani Narwal. The statement of Direc

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