India’s economy grew at a slower-than-expected 13.5% in the first quarter of the year. Private consumption picked up, but inflation has been a dampener. Retail inflation which shot up to an eight-year high of 7.79% in April, cooled slightly to 6.7% by July. However, in several States and Union Territories (UTs), including Assam, Andhra Pradesh, Gujarat, Haryana and Telangana, consumers continued to face over 7% inflation in July, while 11 States, including West Bengal, Uttar Pradesh and Bihar, saw accelerated price rise in the month. (Read More)
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