Trade and Wholesale Prices Tank

India Macro Weekly: Trade and wholesale prices tank
For the week ended April 23, 2016, there was little change in trend in key indicators: Foreign trade and Wholesale Price Index (WPI), both continued to shrink compared to the levels during the previous year. The only element of surprise was found in the trade report, where trade deficit fell to a five year low of USD 5.1bn, as imports fell far more rapidly than exports. 

Despite the continued decline in WPI however, pulses inflation continues to be in high double digits, prompting the centre to release buffer stocks of key pulses’ segments and announce a host of related measures to keep inflation in check.
Activity numbers were positive, as travel and tourism services both saw a healthy trend, as indicated by growth in foreign tourist arrivals and passengers carried by domestic airlines. 

Rural electrification also continued at a fast clip as 110 more villages were electrified, under the goal to electrify all villages in India by May 2018. The eastern states of Arunachal Pradesh and Assam saw the maximum number of villages being electrified. 
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