Press Releases

Political uncertainty is finally behind us. The BJP-led National Democratic Alliance (NDA) won a decisive mandate, clearing the path for a second term for Narendra Modi. This also means continuity of policy and opportunity to push tougher reforms particularly - land and labour.

Apprehensions of bidding intensity in hybrid annuity model (HAM) projects offered by the National Highways Authority of India (NHAI), and consequent fear that many of these projects will not achieve debt tie-up, have been put to rest with 90% of all awarded HAM projects – worth over Rs 1 lakh crore – achieving debt funding, a CRISIL analysis shows.

CRISIL expects prices of pesticide inputs (technicals1 or intermediates1) to decline 20-25% in fiscal 2020, because of improving supplies from China. That will help domestic pesticide manufacturers, who import over two-thirds of their input requirements, to improve operating margins by ~150-200 basis points (bps) to ~11-12% this fiscal.

Exactly three years since it was legislated, the Insolvency and Bankruptcy Code, 2016 (IBC) has made material progress in addressing the logjams it was supposed to – which is faster recovery of stressed assets and quicker resolution timelines.

CRISIL Research expects headline inflation, measured by the Consumer Price Index (CPI), to rise 60 basis points (bps) to 4% this fiscal from 3.4% in fiscal 2019. This base case assumes food inflation rising to 3% from an abnormal low of 0.1%.