India's gross domestic product grew 7.8% in the first quarter (Q1) of the current financial year — quicker than the same quarter last year, though slower than the preceding quarter. Official data attributed the stronger performance to the manufacturing sector and to broad-based services such as utilities, financial services, real estate, IT, and public administration and defence.
Index of Industrial Production (IIP) growth eased to 6.7% in July 2026, which was still its second-best reading since December last year. Growth was buoyed by the manufacturing and the electricity and gas supply sectors. Economists cautioned that sluggish rural consumption could weigh on momentum in the coming months, flagging demand-side weakness even as industrial output held up.
The HinduIndia's services sector continued to expand in August 2026, with the seasonally adjusted HSBC India Services PMI Business Activity Index rising to 54.1 from 53.3 in July. A reading above 50 signals expansion. Supportive demand conditions and rising new business inflows drove the improvement, keeping the services economy in growth territory for another month.
The HinduThe GST Council meeting has been rescheduled to 7 October 2026 from the earlier date of 12 September. The preparatory meetings of government officers will be held ahead of it, on 5 October from 3 pm and on 6 October from 11 am. The rescheduling shifts a key indirect-tax decision-making session by nearly a month.
LivemintThe Coal Ministry rejected claims that its coal gasification scheme had found 'no takers,' stating that Talcher Fertilisers Ltd (TFL) and NTPC have applied under the scheme. Talcher Fertilisers is already working on implementing a coal-based ammonia-urea gasification complex, which is expected to be commissioned in FY 2027-28. The clarification counters reports of weak industry uptake.
The Hindu
