Here are the top stories this evening:
GDP growth surges to 13.5% in Q1, but misses estimates
India's GDP growth surged to 13.5 percent in April-June from 4.1 percent the previous quarter, data released on August 31 by the Ministry of Statistics and Programme Implementation showed. The sharp up-tick in growth was driven by a favourable base effect and the ongoing economic revival. The Indian economy grew slower than anticipated last quarter, with economists predicting growth would come in at 15 percent, as per a Moneycontrol poll.
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Core sector growth slows to 4.5% in July
India's eight core sectors grew 4.5 percent in July, slowing from an upwardly revised 13.2 percent in June, the commerce ministry said on August 31. Output in six of the eight core sectors grew in July. These sectors include coal, refinery products, electricity, fertilisers, cement and steel, said the ministry.
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April-July fiscal deficit at Rs 3.41 lakh crore; July sees first fiscal surplus since start of pandemic
The central government's fiscal deficit stood at Rs 3.41 lakh crore in April-July, accounting for 20.5 percent of the full-year target, data released on August 31 by the Controller General of Accounts showed. The fiscal deficit for April-July 2021 had accounted for 21.3 percent of the FY22 target.
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SpiceJet delays salaries for second straight month, payments made in 'graded format'
SpiceJet employees on Wednesday alleged delay in the disbursal of salaries for the second straight month, with the budget airline saying the payments were being made in a "graded format".
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Maruti's first EV will not be priced below Rs 10 lakh, says Chairman Bhargava
Contrary to the buzz that Maruti Suzuki India Limited (MSIL) electric car will be priced in range of Rs 7.5-10 lakh, chairman RC Bhargava told shareholders at the 41st annual general meeting (AGM) on August 31 that the vehicle will be priced at the "upper segment" of the market. When Moneycontrol reached out to him, Bhargava did not share the price but confirmed that the car would not be priced under Rs 10 lakh in spite of heavy indigenisation.
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Meta lets users post NFTs on Facebook, Insta: How will it work?
Meta has announced that select Facebook users in the US can now exhibit block-chain verified digital collectibles, or non-fungible tokens (NFTs), thanks to a new feature. Till now the feature was only available on Meta's other major platform Instagram.
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Mikhail Gorbachev years – Era of the Soviet leader who ended cold war
Mikhail Gorbachev, the leader of the Soviet Union whose attempts to shake up his country’s political and economic system led to the collapse of the Communist superpower and the end of the Cold War, has died. He was 91.
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