Explore Business Standard
Crisil
A cohesive national and state-level regulatory framework that gives investors long-term confidence is essential for the country to meet its non-fossil goals, according to a CRISIL expert. The government has an ambitious target of having 500 GW non-fossil fuel-based power generation capacity by 2030. Non-fossil fuel capacities include sources like solar, wind, biomass, waste-to-energy, hydro projects etc. "Achieving India's 500 GW non-fossil target will require a cohesive national and state-level regulatory framework that gives investors long-term confidence," a statement issued by FICCI said, quoting Ashish Mittal, Director, Energy & Commodities, CRISIL. Cap-and-floor mechanisms, viability gap funding and storage-as-a-service models will be critical to de-risk investments and unlock private capital at the scale India now needs, he said at FICCI's India Power and Energy Storage Conference on Wednesday. On energy storage, Ashok Sharma, the Deputy Managing Director, State Bank of .
Crisil has raised its forecast for the country's GDP growth to 7 per cent from 6.5 per cent for the current financial year, following the first-half growth of 8 per cent that exceeded expectations. Chief economist of Crisil, Dharmakriti Joshi, said that India's real GDP growth stood at 8.2 per cent in the second quarter, exceeding expectations. However, due to easing inflation, the nominal GDP growth was modest at 8.7 per cent. The first half growth of eight per cent and an expected slowdown to 6.1 per cent in the second half owing to the impact of higher US tariffs, Joshi said. According to Crisil, private consumption was the main driver of higher real GDP growth. From the supply side, growth in manufacturing and services saw a significant rise. Joshi said lower food inflation stoked discretionary spending in the country. Joshi said that the third quarter is expected to continue benefiting from these tailwinds. While government investment will stabilise likely, there could be a .
Capital outlay of states is expected to grow from four per cent to six per cent in the current financial year touching approximately Rs 7.5 lakh crore, Crisil Ratings said in its report on Friday. This would be lower than seven per cent in the last financial year and well below the decadal average of 11 per cent as rising revenue deficits are limiting financial flexibility, the report said. Water supply and sanitation, including housing and urban development and irrigation, will continue to be the main drivers of the capital expenditure, the report said. The top 18 states will account for 94 per cent of capital outlay of the states. According to the report, rising revenue deficit of the states are due to slow pace of growth due to moderation in GST rates post rationalisation, slowing devolution from the Centre and lower nominal GDP growth driven by easing inflation. On the other hand, revenue expenditure is set to grow sharply by seven per cent to nine per cent, driven by committe
India's merchandise exports fell 11.8 per cent year-on-year, since August 2024, to USD 34.38 billion in October, Crisil said in its report. This follows a 50 per cent increase in US tariffs on August 27 this year, a move that has subdued exports for the second month in a row, the report said. The decline in exports was broad-based across petroleum products, gems and jewellery and core sectors. Petroleum products exports declined 10.4 per cent year-on-year in October, compared to a growth of 15.1 per cent in September. Similarly, core exports slipped to 10.2 per cent compared to 6.1 per cent growth in September 2025, the report said. Merchandise exports to US decreased 8.6 per cent year-on-year to USD 6.3 billion in October. This was an improvement from the 11.9 per cent decline in September, according to the report. The announcement by the US on November 16 to cut tariffs on 254 food items bodes well for some of the agricultural exports, such as tea and spices, the report ...
Crisil Ratings said post the rationalisation of GST on commercial vehicles, acquisition of new fleet by the operators would decline substantially. It said in a statement on Monday that GST on commercial vehicles has been reduced to 18 per cent from 28 per cent. "This will bring down the acquisition cost of fleet operators," it said. Domestic commercial fleet operators are expected to clock a revenue growth of eight per cent to ten per cent this financial year, according to the statement. Strong domestic demand and import-related fleet requirements will drive growth. Higher revenues and stable margins will result in improved cash flows, which will partially fund the incremental working capital requirement, the statement said. Dependence on external short-term debt will be limited, and operators will undertake additions to their fleets funded by long-term loans. Increased fleet utilisation will ensure operating margins to remain stable between eight per cent to 8.5 per cent, accordi
High tariffs imposed by the United States on Indian goods pose a major risk to the country's growth, Crisil Intelligence said in its September report. The tariffs will impact both Indian goods exports and investments, the report added. However, domestic consumption, driven by benign inflation and rate cuts, is expected to support growth, it said. The country's GDP rose to a five-quarter high of 7.8 per cent in the first quarter of fiscal 2025-26, up from 7.4 per cent in the similar quarter in the previous year. Nominal GDP growth, however, slowed to 8.8 per cent from 10.8 per cent during the same period, it added. The report said consumer price index (CPI) inflation is likely to soften to 3.5 per cent in the current fiscal from 4.6 per cent in the previous year. Healthy agricultural growth is expected to keep food inflation under check, though the impact of excess rain was yet to be fully assessed. Lower crude prices and benign global commodity prices are expected to contain non
Crisil, an S&P Global Company, announced the acquisition of McKinsey PriceMetrix Co. (PriceMetrix), a leading provider of performance benchmarking and data-driven insights for the wealth management industry. PriceMetrix, based in Toronto, serves leading wealth management firms in the US and Canada. Its proprietary database covers USD 8 trillion in assets under management and 30 million investment accounts, backed by 25 years of data, rating agency Crisil said in a statement. The acquisition includes key products such as ValueOne, FeeCheck, CommissionCheck, SignalOne, advisory services, and comprehensive surveys of the North American wealth management sector, it said. This planned acquisition aligns with Crisil's strategy to scale in wealth management and extend sector benchmarking capabilities to large global banks, traditional wealth managers, and registered investment advisors (RIAs), it said. With this acquisition, Crisil strengthens its position as a leading provider of ...
Research and ratings firm Crisil said that the headline inflation during 2025-26 is projected to be 3.2 per cent, lower than its earlier estimate of 3.5 per cent. In its latest report, Crisil said that the moderation implies a decline of 140 basis points in CPI inflation during this financial year, which is likely to give space for monetary easing. It said the RBI may cut rates by another 25 basis points this year. According to Crisil, lower inflation and reduced interest rates should increase domestic demand in the economy as global headwinds mount. The report also said that the excessive rains during the kharif season is a risk as it could cause disruptions in key horticulture and foodgrain-growing regions like Punjab which is facing its worst floods in four decades. CPI inflation inched up to 2.1 per cent in August 2025, from 1.6 per cent in July, moving above the RBI tolerance threshold of two per cent. Food inflation has started to move up from low levels but trails the head