
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.
Fluctuations are being seen in the cases of corona in the country. The Ministry of Health said th
India is doing naval exercises with the USA to give a message to China?
Can Indian and US Navy joint military exercises in the Indian Ocean have any message for China? E
Telangana Police has exposed the attempt to buy 4 MLAs of Telangana Rashtra Samithi (TRS). Cybera
From 'Reluctant Raghu' to 'Rate-cut-Raghu': Anand Mahindra
Chennai, Jan 15 (IANS) Automobile group Mahindra & Mahindra (M&M) chairman Anand Mahind
The central government told Parliament on Tuesday that so far 162 doctors, 107 nurses, and 44 Ash
Ramdev on Trump Tariff: Yoga guru Ramdev found a solution to Trump tariff, told what to do now
Everyone is criticizing Donald Trump's huge tariff on India. Even the American MPs themselves are
Kate Moss makes Grand Entrance at party
London, Jan 28 (IANS) When it comes to making a glamorous entry, supermodel Kate Moss doesn't m
Pakistan: I have no hope about general elections in Pakistan: Imran Khan
Reacting to rumors of setting up a technocratic government, Pakistan Tehreek-e-Insaf (PTI) chief
Apple iPhone 12 base model price revealed, know what will be the price
New Delhi: Tech giant Apple will soon launch the iPhone 12 series. According to reports, the comp
Virat Kohli took a selfie with Anushka Sharma, said – it is good to make fans happy
Both Anushka Sharma and Virat Kohli have very tight schedules, but despite this, both of them oft