NCAER pegs India’s GDP to grow at 6.2% in FY20; RBI cuts repo rate by 35 basis points

After CRISL cutting down India’s GDP growth estimate to 6.9 per cent, India’s GDP growth is likely to be 6.2 per cent during the current fiscal, down from 6.8 per cent in 2018-19, on account of flat growth in agriculture sector, economic think-tank National Council of Applied Economic Research (NCAER) said. The prospects for agricultural […]

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India’s cane arrears to farmers reduce at least by 13% in Sugar season 2020: CRISIL report

Higher liquidity and profitability of mills is expected to reduce cane arrears that stood at Rs 15,200 crore as of July 2019, rating agency CRISIL Research said in its latest report. The government is expected to reimburse the cost of carrying inventory of 4 million tonnes by paying Rs 1,670 crore directly to farmers, thus […]

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CRISIL cuts India’s GDP growth forecast for FY20 to 6.9%

Credit rating agency CRISIL Research has sliced its estimate of India’s gross domestic product (GDP) growth by 20 basis points to 6.9 per cent for this fiscal, following a triangulation of downside risks: weak monsoon, slowing global growth, and sluggish high-frequency data for the first quarter. The slowdown would be pronounced in the first half, […]

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Andhra Pradesh govt order puts Rs 21,000 crore renewables sector debt at risk: CRISIL

The Andhra Pradesh (AP) government’s move to review and bring down the purchase cost of wind and solar energy could aggravate the problem of delayed payments from distribution companies and stress almost 5.2 GW of renewables projects with estimated debt exposure of over Rs 21,000 crore, credit rating agency CRISIL Research said. Nearly half of […]

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Indian cotton yarn margins may shrink 100-150 bps FY20: CRISIL

The operating margins of Indian cotton yarn spinners may shrink by 100-150 basis points (bps) in fiscal 2019-20 owing to lower cotton output, rising cotton prices and moderating demand, reversing the recovery seen the previous fiscal, according to rating agency CRISIL. That, however, is unlikely to materially affect the credit profiles of spinners, it said. […]

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Falling LNG prices may lift city gas distributor margins by 250-300 bps: CRISIL Research

A 22-25 per cent decline in the prices of liquefied natural gas (LNG) since January this year, and an expected 5-7 per cent increase in consumption of piped natural gas (PNG) and compressed natural gas (CNG) should drive up the operating profit margins of city gas distribution (CGD) companies by 250-300 basis points (bps) in […]

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City gas distribution, fertiliser sector to drive gas demand: CRISIL report

Gas demand is expected to grow at 3.5% CAGR between fiscals 2018 and 2023 to 191-193 MMSCMD. The main push for incremental demand is expected to come from the fertiliser and city gas distribution (CGD) sectors, ratings agency CRISIL Research said in its latest report. The conversion of naphtha-based urea plants, commissioning of new capacities […]

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