
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.
The pace of the HMPV virus is increasing rapidly in the country. Now the second case of HMPV has
Team India is playing a series of 5 T20 matches against South Africa. Team India's batsmen comple
Realme GT Neo 2 smartphone teaser released, will soon enter India with 8 layer cooling system
The teaser of Realme's most awaited smartphone Realme GT Neo 2 has surfaced. After the teaser, it
First the Shraddha Walker murder case in Delhi and now the Saraswati Vaidya murder case in Mahara
Government and private doctors of Uttarakhand will demand to arrest Baba Ramdev by tying black la
'Even his flop film earns 200 crores...', Suniel Shetty gave such a reply on Salman Khan's failure.
Salman Khan, who has given blockbuster films like Bajrangi Bhaijaan, Sultan, and Ek Tha Tiger, ha
Amidst the war between Ukraine and Russia, the statement of Union Minister Pralhad Joshi has spar
Why does China call Arunachal Pradesh 'Southern Tibet'?
Both India and China had leveled allegations and counter-accusations on each other two days ago o
Discussion on new education policy soon: Irani
New Delhi, Jan 6 (IANS) Human Resource Development Minister Smriti Irani Tuesday said the gover
Blaming the cross-border activities directly for the incidents of terrorist violence in Jammu and