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.
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
Odisha gets first women's university
Bhubaneswar, Jan 1 (IANS) The Rama Devi Autonomous Women's
After Operation Sindoor, five alleged spies have been arrested one after the other from Haryana b
Guptill fires New Zealand into WC semis
Wellington, March 21 (IANS) An incredible unbeaten knock of 237 from opener Martin Guptill fire
After the martyrdom of 5 soldiers of Assam Rifles on November 13, the army has increased strictne
Indian team's star batsman Virat Kohli can register a special achievement in his name during the
In many states of the country, the falling temperature has started showing its effect. Changes in
IND W vs PAK W Head To Head: India's dominance over Pakistan, 100 percent record in World Cup
India Women's vs Pakistan Womens: The ICC Women's World Cup 2022 is going to start on March 4 wit
SC on Sandeshkhali Violence. Mamta government got a big blow from the Supreme Court today. Mamata
NEET Controversy: Two other accused arrested for removing the innerwear of NEET girl students
Proceedings are on in Kollam, Kerala for asking girl students to remove their innerwear for admis
