Top news on Aug 30: India GDP growth at 15-month low, Vistara-Air India merger

Top news today: On 30 August, a series of events are set to take place right from politics to business.
India’s economy grew at 6.7% in the April-June quarter, marking the slowest pace in five quarters, according to data released by the statistics ministry on Friday. This follows a 7.8% expansion in the previous quarter. The expansion was slower than anticipated. A Mint poll of 25 economists had projected India’s economic growth to slow to 6.85% in the April-June quarter. Read more
Indian stock market benchmark Nifty 50 hit a fresh record high and continued its upward march for the 12th consecutive session on Friday, August 30, amid positive global cues. The 30-share pack Sensex, too, rose to a record high, and on the monthly scale, both indices rose for the third consecutive month. Read more
The merger between two full-service airlines of the Tata Group, Air India and Vistara, will be completed on 12 November. That day, Vistara’s crew, aircraft and air operator certificate will be transferred to Air India. Vistara, a 51:49 joint venture of Tata Sons and Singapore Airlines, said in a statement to the media on Friday that from 3 September onwards, flight tickets on the airline cannot be booked for travel on or after 12 November. Read more
Prime Minister Narendra Modi has said that India’s financial sector regulators need to do more to curb cyber fraud and raise the level of digital literacy. Cyber frauds should not become an impediment to the growth of India’s startups and fintech companies, Modi said at the third and final day of the Global Fintech Fest in Mumbai on Friday. Read more
The Centre’s fiscal deficit at the end of the first four months of the current fiscal touched 17.2 per cent of the full-year target, government data showed on Friday. In absolute terms, the fiscal deficit — the gap between expenditure and revenue — was ₹2,76,945 crore as of July-end, according to data released by the CGA. Read more
India on Friday dismissed a report alleging its involvement in the Bangladesh floods, stating that the narrative was “misleading” and factually inaccurate. Speaking to the media, MEA spokesperson Randhir Jaiswal said, “… We have seen the CNN report on the flood situation in Bangladesh. Its narrative is misleading and suggests that India is somehow responsible for the floods. Read more
India’s largest private port operator Adani Ports and Special Economic Zone (APSEZ) said on Friday it will acquire a 80% stake in offshore support vessels operator Astro Offshore for $185 million ( ₹1,551.59 crore). With this acquisition, the Adani Group company aims to expand its fleet and diversify beyond port operations. Read more
The Malayalam film industry is currently facing a scandal involving accusations of sexual harassment made by several women actors against well-known individuals in the industry. In a first, an aspiring male actor lodged a complaint against director Ranjith, saying that the director forced him to strip naked and sexually assaulted him. Read more