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

Modi delighted at release of Father Alexis in Afghanistan

New Delhi, Feb 22 (IANS) Prime Minister Narendra Modi Sunday said he was delighted at the relea

IPL 2024: Young age and big achievements! These young captains lifted the shining IPL trophy; Dhoni is behind 'Hitman'

Now only a few days are left for the start of the 17th season of the Indian Premier League (IPL 2

Modi salutes Coast Guard's Determination

New Delhi, Feb 1 (IANS) Prime Minister Narendra Modi Sunday saluted the "determination and brave

Free laptops for Kerala girls admitted in Professional Colleges

Thiruvananthapuram, March 1 (IANS) A total of 1,500 girl students in Kerala from poor families

Kerala Landslides: Experts kept warning, Kerala government kept turning a blind eye to the possibility of an accident; report put on hold

After the huge loss of life and property due to the landslide in Wayanad, Kerala, amid relief and

PM wishes Bhutanese king on his birthday

New Delhi, Feb 21 (IANS) Prime Minister Narendra Modi Saturday wished Bhutan's King Jigme Khesar

Bhutan PM Prays at Bodh Gaya, Gifted Sapling of Bodhi Tree

Patna, Jan 17 (IANS) Bhutanese Prime Minister Tshering Tobgay Saturday visited Bodh Gaya and pr

Parrikar being probed in cheating case: Goa Police to court

Panaji, March 2 (IANS) Goa Police has told a court that it was conducting a "preliminary inquir

From UPI and PAN Cards to ATMs... These Rules Have Changed Since June 1st; Find Out How It Will Impact You.

The month of June has begun with several important financial and banking-related changes that are

AAP's allegation- PM Modi launched Brahmastra in Delhi, submitted a list of 15 people to Delhi Police, CBI and ED to implicate them in fake cases

Delhi Deputy Chief Minister Manish Sisodia on Saturday attacked the central government in an onli

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