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

Learn from Delhi results: Shiv Sena to Maharashtra

Mumbai, Feb 11 (IANS) Attacking ally BJP, the Shiv Sena W

AQI 5 November 2022: Punjab's air more 'poisonous' than Delhi, know- the situation in other cities according to AQI

With the increase in winter, the problem of air pollution also starts to be seen. The air quality

Lok Sabha Elections 2024: Sonia Gandhi in Rae Bareli, today she will be seen on the same stage with Priyanka, Rahul, and Akhilesh Yadav.

Sonia Gandhi is in Rae Bareli. Today she will address the rally to be held ne

Updates of the companies making the vaccine: 7 vaccines received emergency approval so far, only 4 giving Phase-3 results

The vaccine race to protect against coronaviruses has reached the finish line. Russia has given e

Asia Cup: India's star all-rounder injured before the final against Sri Lanka, Washington Sundar will join the team

In the last Super Four match of Asia Cup 2023 against Bangladesh, the Indian team had to face def

Russia-Ukraine War Updates: EU agrees to cut oil imports from Russia by two-thirds; Russia to stop gas supply to the Netherlands

96 days have passed since the Russo-Ukraine war. Meanwhile, the European Union (EU) has agreed to

In Delhi, BJP has maximum candidates with criminal cases

New Delhi, Jan 30 (IANS) Of the 70 political parties in the fray for the Feb 7 Delhi assembly p

Corona in Bhopal: 41 dead bodies on last journey together for the first time, even an eight-month-old girl is not left

Daily cases of coronavirus are increasing rapidly in the country. At the same time, due to day-lo

Sonia has always been active leader: Jairam

New Delhi, March 21 (IANS) Congress president Sonia Gandh

Fair to highlight projects from northeast, east India

Kolkata, Jan 2 (IANS) Hundreds of students from east and northeast India will showcase over 200

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