Current Affairs India - 29 August 2013

1. National Sports Day is being celebrated today (29th August) marking the birth anniversary of hockey legend Dhyan Chand. Lok Sabha Speaker Meira Kumar congratulated all sportspersons for their achievement in various sporting activities.

2. Co-founder and mastermind of Indian Mujahideen, Yasin Bhatkal, has been arrested in a joint operation between the central intelligence agencies and Bihar police. He is a key suspect in several terror blasts since 2008 and most wanted terrorist for India.

3. Indian Parliament has passed food security bill this week which credit rating agency Moody-s term as credit negative for India as it is expected to worsen the government's weak finances. As per Moody-s statement today, "The measure is credit negative for the Indian government because it will raise government spending on food subsidies to about 1.2% of GDP per year from an estimated 0.8% currently, exacerbating the government's weak finances-. Moody's currently has a "Baa3" sovereign rating on India, or its lowest investment-grade rating, with a "stable" outlook.