Manufacturing sector grew at its fastest pace in four months in July on surge in new orders, though job market remained muted and inflationary pressure was subdued, a monthly PMI survey showed on Monday.The Nikkei Markit India Manufacturing Purchasing Managers' Index (PMI) – a composite indicator of manufacturing performance – rose to 51.8 in July from 51.7 in June. A reading above 50 points denotes expansion.Supported by greater demand from both domestic and external markets, new business orders rose at the fastest pace since March.The depreciation of rupee also supported Indian exporters as survey data pointed to the quickest rise in new business from abroad since January.RBI is scheduled to hold its next monetary policy review on August 9. In the last policy review in June, it kept interest rates intact citing rising inflationary pressure, but hinted at a reduction later this year if a good monsoon helped ease inflation.