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Indian Commercial Vehicle Industry: Near-Term Demand Subdued But Focus On Infrastructure And Scrappage Program To Support Sales In Fy 2018        Indian Power Sector: Progress On Debt Refinancing Under Uday Leading To Improved Liquidity Profile Of The Discoms; However Slow Progress Observed In Filing Of Tariff Petitions For Fy2018 By Discoms        Indian Sugar Sector: Healthy Prices Augur Well For Profitability Of Sugar Mills; However, Western And Southern Mills Affected By Slide In Cane Crushing Volumes        Economic growth to show mild recovery in FY2018; broad-based revival in private investment cycle not imminent        Indian Basmati Rice Industry: Performance Of Basmati Industry In Fy2017 Encouraging As Higher Paddy Prices Spell Growth In Realisations In Fy2018; Resumption Of Imports By Iran Will Be A Cause For Cheer        Indian Sugar Sector: Monthly Updates        Indian Mining And Construction Equipment Industry: Monthly Updates        Indian Auto Component Industry: Commodity Price Pressure To Weigh On Profitability Of Auto Ancillaries During Q4fy2017: Monthly Update        Indian Ports Sector: March 2017: Traction in Inland Waterway projects will open up several business opportunities for the port sector players; Iron ore and POL support overall volumes as coal volume growth continues to plummet        Indian Commercial Vehicle Industry: Subdued Optimism Among Fleet Operators Dampen Bs Iv Related Pre-Buying       
 
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Economic growth to show mild recovery in FY2018; broad-based revival in private investment cycle not imminent
Indian Sugar Sector: Healthy Prices Augur Well For Profitability Of Sugar Mills; However, Western And Southern Mills Affected By Slide In Cane Crushing Volumes
Indian Power Sector: Progress On Debt Refinancing Under Uday Leading To Improved Liquidity Profile Of The Discoms; However Slow Progress Observed In Filing Of Tariff Petitions For Fy2018 By Discoms
Indian Commercial Vehicle Industry: Near-Term Demand Subdued But Focus On Infrastructure And Scrappage Program To Support Sales In Fy 2018
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PUBLIC FINANCE RATING

ICRA's Public Finance Ratings cover sovereign and sub-sovereign entities, State governments,and local bodies like municipal corporations, municipal councils and area development agencies. While the ratings assigned, are relative to that of the Union government, which is taken as highest safety, the performance of the State government concerned is benchmarked against that of the universe of major States. ICRA's primary focus being forward looking, we emphasises fiscal management and policy objectives of the government in the coming years and the possible impact of the same on future revenues and expenditure, the budget plan, likely capital expenditure, and future borrowing needs. ICRA's process for assigning State Government Ratings involves analysis of the underlying economy of the State and a detailed study of state finances including budgetary and off-budgetary transactions. The analysis includes comparison with respect to peer States on socio-economic parameters such as social development indicators, composition of GSDP, sectoral rates of growth, income levels, and investment activity. Besides, ICRA's temporal and peer group analysis of State finances covers quality and stability of revenues, expenditure management, analysis of debt outstanding, liquidity position, and quality of governance.

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