Hi abhi90,
Based on your two Official GMAT Scores, you're lost significant points in all 3 major Verbal categories (SC, RC and CR), so you'll likely need to work on all three areas to hit your goal score. Thankfully, the Verbal section of the GMAT is as consistent and predictable as the Quant section is, so you CAN train to score at a higher level.
GMAC has publicly stated that the Official Score that you earn on Test Day is within +/- 30 points of actual ability. This means that you ultimately handled the GMAT in the same general ways both times that you took the Official Exam. You did certain things consistently well, but you also made certain consistent mistakes. To improve, you have ultimately have to change how you 'see' (and respond to) the Verbal section - and that means that you'll have to learn and practice some new Tactics. Your next planned Test Date would give you about 2 months of study time - and you could potentially improve a great deal during that time IF you can commit to a consistent study routine and IF you focus on the proper Verbal Tactics.
1) Going forward, how many hours do you think you can consistently study each week?
GMAT assassins aren't born, they're made,
Rich