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

First Republic Bank: JP Morgan will buy First Republic Bank, depositors will get full money

America's 14th-largest First Republic Bank has been acquired after failing banking operations. JP

Election Commissioner: Fake social media posts are becoming a challenge for fair elections… said CEC Rajeev Kumar

Chief Election Commissioner Rajeev Kumar on Tuesday said fake social media posts are affecting fr

116 killed in earthquake in China: When high-rise buildings became piles of debris due to 6.1 magnitude tremors, see

Earthquake Today in China: So far 116 people have been confirmed dead in the earthquake that occu

Global slow growth is India's opportunity: Jaitley

Kolkata, Jan 7 (IANS) The ongoing global slow growth is an opportunity for India as investors a

UP Board: The wait is over, the results of 42080 students of Noida and 52934 of Ghaziabad will be released today

UP Board 10th, 12th Result 2023: 42,080 students of the district have given the board exam. This

Death due to Corona: Supreme Court approves release of compensation, said- amount received within 30 days of the claim

The Supreme Court on Monday approved the direction of the Central Government to give a compensati

Chief Minister Yogi Adityanath's OSD Motilal dies in a road accident, wife seriously injured

Motilal Singh, the camp office in charge of Chief Minister Yogi Adityanath's Gorakhnath temple, d

UGC chairman's big announcement, now students will be able to get 2 full time degrees simultaneously

The University Grants Commission has announced its decision to allow students to pursue two full-

Transfer of DIG investigating Lakhimpur violence: Upendra Agarwal, who arrested the minister's son, removed, five IGs also changed

The Uttar Pradesh government has transferred 6 IPS officers late on Thursday night. The most impo

North Korea is facing challenges, will succeed: Kim Jong Un

North Korea's dictator leader Kim Jong Un has tested a record number of missiles this year. After

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