Current Affairs India - 18 April 2016

1. India-s overall inflation, measured by the wholesale price index, stood at negative zone in March at (-) 0.85%, 17th consecutive month of negative inflation. Overall inflation stood at (-) 0.91% in the previous month of February.


Food inflation increased marginally to 3.73% in March compared to 3.35% in February while overall inflation in the fuel and power segment stood (-) 8.3% and in manufactured products stood at (-) 0.13% in the same month. Negative inflation will give the RBI more room for further rate cuts during its next monetary policy review meetings.


2. India-s overall exports dropped by 5.47% in March compared to same month last year to USD 22.71 billion due to lower global demand. Also total imports dropped by 21.56% in the same month to USD 27.78 billion. India-s trade deficit dropped to USD 5.07 billion in March from USD 6.54 billion in the previous month of February. The cumulative exports for the financial year 2015-2016 stood at USD 261 billion dollars.


3. A US grand jury has imposed two companies of India's Tata group -Tata Consultancy Services (TCS) and Tata America International Corp. with a USD 940 million fine in a trade secret lawsuit filed against them. The fine needs to be paid to Epic Systems for allegedly using its software. TCS said that it will appeal against the verdict in the higher court.


4. Indian gymnast Dipa Karmakar created history today by becoming the first Indian woman gymnast to qualify for Olympics. She exhibited a great show as she completed her performance at the final qualifier and Olympic Test Event in Rio de Janiero.She finished ninth in the first of the four subdivisions of the women's artistic category, thus qualifying for the Rio Olympics in August. Earlier, she had created history by becoming the first woman gymnast to win a bronze medal in the Commonwealth Games in Glasgow in 2014.