News Snapshot:
Despite a worrying slowdown in exports, the Indian economy is likely to have grown at an impressive rate in the June-ended quarter, data for which will be released on Thursday. The growth rate is expected to come around 7.8%, according to the median of the estimates given by 22 economists in a Mint poll. While robust domestic demand and manufacturing and services activity are likely to have aided growth, a low-base effect could also be at play. The statistical effect of a dip in trade deficit and the deflation method used to compute GDP may also bump up the figures....
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