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

Rohit-Rahul's experiments on Team India: Bishnoi, who took Babar's wicket, was out of the team, suddenly Umesh got a chance after 3 years

India's number-1 team in T20 cricket has lost 3 matches in the last 4 matches. The team could not

India-France Ties: Macron admires the veteran, this video sends a powerful message, cautioning against the pitfalls of overconfidence.

French President Macron's recent visit to India was in the news for several reasons. During his v

India handed over 75 buses to Sri Lanka, and public transport infrastructure will be strengthened; has helped before

India has given 75 passenger buses to cash-strapped Sri Lanka to strengthen public transport infr

Amit Shah Rally Bihar: Amit Shah cornered Lalu-Nitish on 'Jungle Raj', read important points of the speech

Union Home Minister Amit Shah has reached Jhanjharpur in Madhubani. Here he addressed the people.

Industry: Worst performance of Indian industry, industrial production down to 26-month low

The country's industrial production declined by 4 percent in October due to the weak performance

Imran's minister gave accurate advice to deal with inflation, people got angry

Inflation is at its peak in all the countries of the world including Pakistan. To curb this, many

Waqf Bill in Rajya Sabha: The real test of the government in Rajya Sabha, is knowing how every vote will be important for NDA and the opposition

The central government passed the Waqf Amendment Bill in the Lok Sabha on Wednesday. The governme

Mundra Port: Who is the owner of drugs worth Rs 21 thousand crore? The conspiracy of Afghanistan and Pakistan is being hidden!

After getting bail to Aryan Khan and other accused in the Mumbai drugs case, now the case of 'her

Kullu Tourists Accident: A vehicle full of tourists got stuck in the ditch due to a lack of brakes, 17 people from four states had come to visit Kullu from Delhi, and seven died

Himachal Kullu Tourists Accident, Himachal Pradesh A group of 17 people who went to visit Jalori

Honesty or dishonesty: When Mitchell Marsh left the field without getting out against Lucknow, the fans said the villain of the match.

It is said that no matter what happens, the batsman must know whether the ball has taken the edge

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