Economy

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.

The hike will benefit about 48.41 lakh central government employees and 62.03 lakh pensioners.

India's main services index rose at the fastest pace in 21 months in July, the latest purchasing managers survey showed.

Besides, the agency said that the Reserve Bank of India (RBI) is expected to continue on a steady monetary policy tightening path into 2019.

After the twin shocks of a cash ban in 2016 and the chaotic introduction of a consumption tax last year, India's economic recovery is gaining momentum. Businesses are taking advantage of the solid demand to raise prices, lifting profits, but also fanning inflation at a time of higher oil prices and a currency slump.

President Ram Nath Kovind assigned the portfolios to Arun Jaitley on the advice of Prime Minister, a statement added.

Greece has successfully exited its final, three-year bailout programme, agreed in August 2015 to help it cope with the continued fallout from a debt crisis.

The rupee is already Asia's worst performing currency and had touched an all-time low of 70.40 per US dollar on Thursday.