If the monsoon holds, India’s GDP growth in FY'17 could rise to 7.9%, grazing the much vaunted 8% mark, Crisil estimates, with agriculture expected to grow by 4%. Growth driven by improved consumer sentiment would also keep inflation low. So far the monsoon in India has been normal or above normal. Hindu
State finance ministers have reached an agreement over the GST bill, and the law could be passed by the Rajya Sabha as early as next week. The government has scrapped a 1% additional tax levy and agreed to full compensation to states for any revenue losses for five years. BS
In the six months from January to June, Amazon India attracted 6 million active users to its app, while Flipkart lost 8 million over the same period. Amazon has been investing aggressively in Indian infrastructure to make the country its second largest market outside the US. FE
Bharti Airtel's profit fell 31% in Q1. The company blames increasing interest costs on spectrum for the decline. Average revenue per user was up Rs 21 to Rs. 202. Firstpost
Photo of the day: A solar power plane has completed its trip around the world, setting a new landmark for solar energy. Atlantic
