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

Weather takes a turn in North India; light rain likely in Delhi, UP, and Rajasthan, while snowfall is forecast in the hills.

On Monday, weather patterns are expected to shift across various parts of the country. In North I

Punjab Election 2022: Captain filed nomination from Patiala, said- alliance with BJP for development

Former Punjab CM and Lok Congress Party chief Captain Amarinder Singh has filed his nomination pa

Donald Trump: 'We need to save TikTok...', Trump's big statement in the rally held before the swearing-in

During a rally before taking the oath of office, Donald Trump clearly said that he would not allo

World Cup: India never lost to Pakistan, record bad against four countries; Such is the performance against nine teams

Now only seven days are left for the World Cup to be held in India. 10 teams will participate in

Hackers demanded a ransom of ₹ 200 crores from Delhi AIIMS: Said- make payment in cryptocurrency; Delhi Police rejected the claim

Those who hacked the server of the country's largest government hospital AIIMS Delhi have demande

'An unprecedented incident could have occurred in Parliament with PM Modi present,' says Speaker Om Birla in a major statement.

The fact that Prime Minister Narendra Modi was unable to deliver his speech during the debate on

Sri Lanka hammer hapless Bangladesh with 332/1

Melbourne, Feb 26 (IANS) Powered by centuries from Tillakaratne Dilshan and Kumar Sangakkara, S

Lok Sabha Election 2024: These ministers of the central government are in the fray in the seventh phase; Know who is challenging where?

The process of voting for the six phases of the Lok Sabha elections has been completed. Today the

Amidst the volatile situation in Iran, hundreds of Indians returned safely to their homeland, saying, "With Modi ji, everything is possible."

Amidst the widespread protests and growing instability in Iran, several Indian citizens arrived a

Indonesia Earthquake: 5.6 magnitude earthquake in Jakarta, 20 killed, more than 300 injured

A 5.6 magnitude earthquake occurred in Jakarta, Indonesia. During this, 20 people lost their live

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