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.
Amid the ongoing controversy over the derogatory comments made by Maldivian ministers on Prime Mi
Action is being taken against illegal madrasas and encroachment in the state. On Monday, the admi
UP Board Result 2022: Wait will end, UP Board result date may come today
UP Board Result 2022: The wait of students is increasing for the results of the UP Board 10th and
Supreme Court: Advised to implement digital DIN system in states, Supreme Court directed
The Supreme Court has directed the Center and the GST Council to advise the states to implement t
616 students conferred diplomas at IIM-Lucknow convocation
Lucknow, March 14 (IANS) The 29th annual convocation of the Indian Institute of Management-Luck
This year the pre-monsoon months were the second warmest since 2010 in terms of recorded temperat
The Union Additional Health Secretary has written a letter to the Chief Secretaries of all the st
The Supreme Court will pronounce its order on petitions seeking an independent court-monitored in
Former principal Sandip Ghosh's troubles are increasing after he resigned soon after the rape and
50 more swine flu cases in Telangana
Hyderabad, Jan 24 (IANS) Fifty new cases of swine flu have been reported in Telangana, officials
