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

Bangalore: Ather Energy's production capacity increased three and a half times, 650 e-scooters are being made every day

E-scooter and charging station company Ather Energy will increase production capacity to 35 thous

World Cup 2023: When will Hardik Pandya be fit? Against which team will you play the match? Know the latest updates here

Indian all-rounder Hardik Pandya will be fit before the semi-finals. India will face England in L

Umran is not a bowler, but half of Gujarat's team was sent alone to the pavilion, 4 bowled; Speed of the ball exceeded 150

The match between Hyderabad and Gujarat was played in IPL 2022 on Wednesday. In a thrilling match

Jacqueline Fernandes did not appear before ED even today in money laundering case, cited work

The Enforcement Directorate (ED) has issued summons to Jacqueline Fernandez in the Sukesh Chandra

10 new corona patients, one more dead

Another person has died of corona infection in the industrial city. The death toll from Corona in

As soon as the Dhanavarsha / temple opened in Tirupati Balaji, the employees here offered more than 65 lakh rupees in 3 days, the devotees donated 43 lakh on the first day.

Tirupati. About 80 days later, the devotees made Dhanavarsha as soon as the Tirupati Balaji templ

Trump gives another blow to China on the go, Xiaomi banned in America

US President Donald Trump may be leaving power on January 20 but is not showing any reduction in

Omar Abdullah Congratulates Kejriwal

New Delhi, Feb 10 (IANS) Former Jammu and Kashmir chief minister Omar Abdullah congratulated Aa

Indian Railways Launches ‘Q-Mitra’ System to Simplify Tatkal Ticket Booking and Crack Down on Bots

In a major move aimed at making Tatkal ticket booking fairer and more transparent, Indian Railway

UP Legislature Session: CM Yogi again lashed out at SP, said – these people raised the mafia

On the size of the budget presented for the financial year 2023-24, UP Chief Minister Yogi Aditya

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