“The Indian economy will grow around 7% in the current fiscal year and is on track to maintain a similar growth rate for several years,” NITI Aayog member Arvind Virmani said on July 12.

Mr. Virmani said there are new challenges facing the country and they will have to be dealt with. "Indian economy will grow at 7% plus minus point 0.5%... I expect that we are on track to grow at 7% for several years from today," he told PTI in an interview.

Last month, the Reserve Bank of India (RBI) pegged the FY25 gross domestic product (GDP)growth rate at 7.2%. Responding to a question on the decline in private consumption expenditures in the last fiscal year, Mr. Virmani said it is actually recovering now.

A Chinese rocket start-up has suffered yet another launch failure, resulting in the loss of three satellites as part of a commercial constellation being assembled for global weather forecasting and earthquake prediction.

Hyperbola-1 – a 24-metre (79ft) high solid-fuel rocket produced by iSpace – lifted off on Thursday from the Jiuquan Satellite Launch Centre in China’s Gobi Desert.

“The rocket’s first, second and third stages flew normally, but the fourth stage suffered an anomaly and the launch mission ended in failure,” the company said, adding that the specific reasons for the failure would be announced as soon as possible after detailed investigations, the Hong Kong-based South China Morning Post reported on Friday.

Essar Energy Transition (EET) on Friday announced setting up of Europe's first hydrogen-ready combined heat and power plant (CHP) at its Stanlow refinery in Ellesmere Port in the UK.

The building of the power plant is a key part of EET's overall $3 billion of energy transition initiatives in the North West of England.

The company aims to complete the project, EET Hydrogen Power in 2027, it said in a statement.

The investment will support EET Fuels' ambition to become the lowest carbon process refinery, globally and EET Hydrogen's ambition to become the leading low carbon hydrogen producer in the UK. It will also provide low carbon power to other industrial users in the region to support their decarbonisation targets.

Wanindu Hasaranga on Thursday stepped down as the Sri Lanka captain in T20 Internationals ahead of their upcoming three-match series against India.

India will tour Sri Lanka for a limited-overs series which begins with the three T20Is to be played on July 26, 27 and 29 at the Pallekele International Stadium, followed by three ODIs in Colombo.

Sri Lanka Cricket wishes to inform the public that National Men's 20I Captain Wanindu Hasaranga has decided to resign from the captaincy, a release from Sri Lanka Cricket (SLC) said.

Hasaranga said it is in the best interest of Sri Lanka Cricket that he decided to relinquish the captaincy duties and remain in the side as a player, the release added.

The long hunt for a long-theorised type of black hole has reached a successful conclusion. A new study, published in journal Nature, revealed compelling evidence of a massive black hole residing at the heart of the Omega Centauri star cluster. It is the closest of its kind to our solar system, only 18,000 light-years away.

The newly discovered black hole, estimated to be at least 8,200 times the mass of our sun, falls into the category of intermediate-mass black holes. Scientists believe these black holes formed during the early stages of galaxy evolution, filling a crucial gap in our understanding of black hole development.

The second phase of construction of the “world’s largest Ramayan temple” began in East Champaran district of Bihar of Tuesday.

The Viraat Ramayan Mandir, once complete, will be three times bigger than the Ram Mandir in Ayodhya. Being built at a cost of ₹500 crore, the temple will also have the world’s largest shivling. Thearchitecture of the temple is inspired by the Angkor Wat in Cambodia, the Ramanathaswamy temple at Rameswaram in Tamil Nadu, and the Meenakshi Sundareswarar temple in Madurai.

The construction of the three-storey temple, spread over an area of 3.76 lakh sq.ft., began in June 2023 and is expected to be complete in 2025.

The Madhya Pradesh government has approved Rs 23.8 crore to implement the National e-Vidhan Application (NEVA) in the state assembly, as part of the Union government's Digital India initiative. The project aims to digitize legislative proceedings, reported The Times of India.

Additionally, the cabinet approved scholarship increases for students in hostels and ashrams and decided to purchase a new aircraft for the state. The total cost includes Rs 9,271 crore for seven irrigation projects and Rs 217.7 crore for construction in the Central Jail on Sanwer Road in Indore.

Under the NEVA initiative, 60% of the funding will come from the Union government, with the remaining 40% covered by the state government. Urban Administration and Legislative Affairs Minister Kailash Vijayvargiya explained that the initiative is part of a broader effort to make legislative assemblies paperless.

The James Webb Space Telescope has captured a breathtaking image of a distant quasar, a super bright object powered by a black hole. This image isn't your typical space picture though. A cosmic phenomenon called gravitational lensing has transformed the quasar's light into a stunning "Einstein ring."

The quasar, known as RX J1131-1231, resides an incredible 6 billion light-years from Earth. In the foreground of the image lies a massive elliptical galaxy. Its powerful gravity bends the light from the distant quasar, creating a bright arc and even duplicate images. This creates a mesmerizing effect resembling a ring adorned with jewels.

World Health Organization (WHO) has introduced an online platform called MeDevIS (Medical Devices Information System), the first global open access clearing house for information on medical devices. It is designed to support governments, regulators and users in their decision-making on selection, procurement and use of medical devices for diagnostics, testing and treatment of diseases and health conditions.

The MeDevIS platform includes 2301 types of medical devices used for a broad-ranging health issues, including reproductive, maternal, newborn and child health, noncommunicable diseases such as cancer, cardiovascular diseases, diabetes as well as infectious diseases such as COVID-19.

“The number of medical technologies used in health care is growing, as is their complexity, which can make it challenging for health care practitioners and patients to navigate,” said Dr Yukiko Nakatani, WHO Assistant Director-General for Access to Medicines and Health Products. “We aim to provide a one stop shop of international information, which can be invaluable for those making decisions on life-saving medical technologies, especially in resource-limited settings, and to improve access”.

Tata Mutual Fund announced the launch of the Tata Nifty India Tourism Index Fund, an open-ended equity scheme following a sectoral or thematic theme.

The scheme opened for public subscription on July 08, 2024, and will close on July 19, 2024. The scheme re-opens for continuous sale and repurchase on July 29, 2024.

This is an open-ended equity scheme following the special situations theme.

At the launch of the index fund, Anand Vardarajan, Chief Business Officer, Tata Asset Management said, “High disposable income, infrastructure developments like better highway connectivity, improved railway comfort & speed and so many new airports have made travel easy, swift and safe. We are witnessing exponential growth in domestic aviation, hotels, restaurants, and travel which augurs very well for the tourism segment. All types of travel, be it pilgrimage, business, medical, or leisure are registering a surge. This makes a compelling case for looking at tourism as a segment and how one could invest and aim to benefit from the growth of this sector.”