Economy

Petrol price in Delhi rose to a record Rs 79.31 a litre and diesel climbed to an all-time high of Rs 71.34 renewing calls for a cut in excise duty to cushion the spike.

The southern Indian city topped Knight Frank's office-rent index with a 7% hike in rates in the three months ended June versus the quarter prior.

A weakening Indian rupee, which has been hitting fresh lows against the U.S. dollar in the past few months, likely boosted exports.

The revenues collected in August are slightly lower than July collection of Rs 96,483 crore, and June collection of Rs 95,610 crore.

Should the economy keep up this momentum it will stand Prime Minister Narendra Modi in good stead when he seeks re-election next year, and dispel some of the criticism that his economic reforms haven't resulted in faster growth sooner.

The fiscal deficit will not exceed 3.3 per cent of the GDP in 2018-19, said Economic Affairs Secretary S C Garg.

The economy's performance in the April-June period was powered by a strong performance of manufacturing and consumer spending.

The Central Statistics Office (CSO) said in its statement that areas such as manufacturing, electricity and gasregistered growth of over 7 per cent during the quarter.

However, growth rate in production of crude oil and natural gas recorded negative growth in the month of July.

India expects to trim the deficit to 3.3% of GDP this fiscal year, after meeting an upwardly revised fiscal deficit target of 3.5% of GDP in 2017/18.

The Insurance Regulatory and Development Authority of India (Irdai) has issued a circular in this regard.

India GDP: Reports are expecting the GDP growth to be 7.6 per cent.

India's rice exports in April-July edged up 1 per cent from a year ago to 4.15 million tonnes on upbeat demand from Senegal, Benin and Iran.

The median consensus in a poll of 50 economists put annual economic growth just a touch lower than the near two-year high of 7.7 per cent in the January-March quarter.

Dearness Allowance (DA): The increase is in accordance with the accepted formula, which is based on the recommendations of the 7th Pay Commission.