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

Kitchen Holds Acne Cures

New Delhi, March 3 (IANS) Take a peep into your kitchen to banish acne, an expert says.

Positivity rate crosses 13% in 5 states: More than 16 thousand cases were found in the last 24 hours, and 41 died

In the last 24 hours, 16,866 new cases were reported in the country and 17,477 patients were cure

Janardan Dwivedi Denies he Praised Modi

New Delhi, Jan 22 (IANS) Clarifying his comment over Prime Minister Narendra Modi, Congress lea

The Kerala Story: 'The Kerala Story' actress Ada Sharma had an accident, know how her condition is

'The Kerala Story' actress Adah Sharma has reportedly met with an accident. The news of his accid

Maharashtra: FIR lodged against two including contractor in the case of Shivaji Maharaj's statue falling; Government and opposition attack and counter-attack

Police in Sindhudurg district of Maharashtra have registered a case against the contractor and st

Sana Mir: Sana Mir has crossed all limits of shamelessness! After her controversial statement, the former Pakistan captain is now seen offering clarification.

A major controversial incident occurred during the match between Pakistan and Bangladesh in the 2

Lok Sabha Election 2024: BJP released another list, made former woman officer candidate from Bathinda.

All the parties have geared up for the Lok Sabha elections. There is a tough competition between

Havoc: In the largest hospital in Chhattisgarh, the corpses of corona patients lying there, will tremble after seeing the picture.

Corona continues to wreak havoc in the country. More than one and a half million corona patients

Snooki not joining 'The Real Housewives...'

Los Angeles, Feb 18 (IANS) Reality TV star Nicole Polizzi, popular as Snooki, will not join the

ISRO Plans to launch Navigation Satellite by March-End

Chennai, March 10 (IANS) The Indian space agency plans to

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