The business wrap: India’s GDP growth rises to 6.3% in second quarter, and six other top stories
Other headlines: Fiscal deficit in April-October crossed 96% of the year’s target, and Jaitley said the debate on sanitary napkins’ GST rates was ill-informed.
A look at the headlines in the sector right now:
- India’s GDP growth rises to 6.3% for the second quarter of 2017: The economy’s growth rate picked up after falling for five consecutive quarters.
- Fiscal deficit till October was 96.1% of government’s target for current financial year: The fiscal deficit was lifted in October by an increase in expenditure.
- Debate on GST rate for sanitary napkins is ‘ill-informed’, says Finance Minister Arun Jaitley: He also said that achieving a 10% economic growth rate was ‘very challenging’.
- Sensex falls over 450 points, Nifty finishes at 10,222, rupee weakens against the US dollar: Bharti Airtel, Larsen & Toubro were the top gainers on the Sensex, while GAIL, Bosch and Indiabulls Housing Finance rose the most on Nifty.
- Centre makes it mandatory for all smartphones sold from January 1, 2018, to be GPS-enabled: The Department of Telecommunications, however, made an exemption for feature phones.
- State Bank of India raises interest rates on term deposits of above Rs 1 crore: However, the state-owned lender reduced rates on deposits below the amount.
- Union minister Suresh Prabhu said India is poised to become world’s third largest economy: The Commerce and Industry minister said the Centre wants to take manufacturing in the country to 20% of the GDP.