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

'If action is taken, we will accept that EC decided under pressure', the commission asked Kejriwal questions in the Yamuna poison case.

Former Delhi Chief Minister and Aam Aadmi Party Convenor Arvind Kejriwal himself reached the Elec

Nawab Malik said- The one who took him to jail, now he is afraid of going to jail; Know what Sameer Wankhede said

Mumbai NCB zonal director Sameer Wankhede, who is probing the Aryan Khan drug case, is in trouble

Corona Crisis 2.0: The public imposed 'lockdown' even before the government's move, the decision to close the market for seven days

Time will tell what decision the government takes on the lockdown on the deteriorating condition

RBI Norms to Affect Bank's Pricing Power: Moody's

Chennai, Jan 26 (IANS) The Reserve Bank of India's (RBI) norms requiring banks to outline the f

Dukandar Or Mahila

दुकानदार : कैसा सूट दिखाऊँ ?

महिला :

'Take concrete steps instead of making hollow claims', Rahul Gandhi spoke to Amit Shah; also took information from CM Omar Abdullah.

Leader of Opposition in Lok Sabha Rahul Gandhi said on Wednesday that he has spoken to Home Minis

ID blast conspiracy failed in Delhi's Ghazipur Phool Mandi, NNG team defused the bomb by pressing it into the pit

On Friday, there was a stir in Ghazipur Phool Mandi, adjacent to the border of Uttar Pradesh, due

Swami Vivekananda: President Murmu paid tribute on National Youth Day, and the PM said this...

On Monday, the entire nation celebrated the 163rd birth anniversary of Swami Vivekananda. At Belu

Israel-Hamas War: 7044 people died in the bloody war, and 7600 rockets were fired on Gaza; Netanyahu told the complete plan of ground attack

On the 19th day of the Israel-Hamas war, the Israeli Air Force carried out a massive bombardment

Petrol Diesel Price: Oil companies released the prices of petrol and diesel, know how much were today's prices

There has been no change in the prices of petrol and diesel by the government oil companies today

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