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.
Extraction 2 Trailer Release: Netflix's Extraction 2 is also included in the films which are bein
'If we are attacked, then...', S Jaishankar's big statement in front of Iran's Foreign Minister
Tension continues between India and Pakistan. India has attacked 9 terrorist bases of Pakistan. N
Bigg Boss 19 has entered its seventh week. A fierce battle is brewing between the contestants. Wh
Shoaib Akhtar told which IPL team spent crores of rupees on Babar Azam
Pakistani cricketers were banned from participating in the Indian Premier League since 2008. Paki
Sushma Swaraj visit to Tanzania, South Africa postponed
New Delhi, March 27 (IANS) External Affairs Minister Sushma Swaraj has postponed her March 28-3
On the second day of the Monsoon Session of Parliament, NCP and Congress have given notices of st
The southern state of Kerala is in the grip of a serious and deadly Nipah virus these days. So fa
There has been an increase of 16.6 percent in the Goods and Services Tax collection in October. A
Badaun: Woman murdered after gang rape, temple priest is the main accused
A 50-year-old woman was brutally murdered after a gang-rape in Ughaiti area of the Badaun d
China Flood Alert: Flood crisis in China facing severe drought, alert declared
China is facing severe drought these days. The southern and western parts of China have been badl
