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.
India's tax-to-GDP ratio fell once again to a decade-low of 9.88 percent in Covid's first year. T
Infinix Zero 5G 2023 vs Poco X4 Pro 5G: Infinix Zero 5G mobile phone was launched this year. Now
The Union Health Ministry held a press conference on Wednesday regarding the increasing cases of
Delhi border seal, no pass no entry
In view of the increasing cases of corona in Haryana, the government has re-sealed the inter-stat
Ranbir Kapoor and Alia Bhatt are going to be parents soon. Both are very excited about their new
The name of Anant Mahadevan is included in the few strong people of the Indian entertainment worl
Bihu Festival 2023 Date: Today i.e. on 14 April 2023, the Bihu festival is being celebrated. This
Traitors have forgotten Bhagat Singh: Hazare
Chandigarh, March 23 (IANS) Social activist Anna Hazare said on Monday that some traitors in th
Parties not fighting polls may lose registration: CEC
Kolkata, March 21 (IANS) The Election Commission is seriously mulling revoking registration of
What is the full form of G Ram G, which will replace MNREGA? The complete A to Z of the new bill.
During the ongoing winter session of Parliament, the central government is preparing to introduce
