It is on expected lines considering that the ruling Bharatiya Janata Party (BJP) is looking to shore up its popularity following its loss of three strongholds in agrarian states at the November/December 2018 state legislative assembly elections, it stated.
According to a BMI Research, a Fitch group company, the negative shock from demonetisation and GST implementation has "largely subsided".
Modi, who is due to start a three-day visit to Myanmar on Tuesday, wants to expand ties with eastern neighbours to develop India’s landlocked northeastern states.
"Coal will remain the dominant fuel choice for India's power sector, given the vast domestic feedstock available to power generators," BMI Research said in the report.
According to the report, bauxite production is projected to be at 26.1 MT this year, about 18 per cent higher than 2016.
Bullish on India, it said the trend represents an average annual growth of 6.9 percent during 2017-2021.
It expects prices for the metal to trade in the range of USD 450-520 per tonne during the second half of 2016 with the average price for the entire year coming to USD 480 a tonne.
At present, India remains the largest gasoline exporter in the Asia-Pacific region, exporting the majority of its output to Asia and the Middle East, which accounted for nearly half of India's total refined fuels exports in 2014.
US benchmark West Texas Intermediate for September delivery was down seven cents to USD 41.80 in late-morning trade.
Only substantial improvements at the operational level would cause a meaningful improvement in their credit profile, given the high leverage levels and negligible cash generation ability of corporates in these sectors.
The Fitch Group company expects passenger vehicle production in India to rise to 65-67 lakh units by FY16, up 33-37 percent over FY13.
The government is likely to overshoot its fiscal deficit target of 5.3 percent for the current fiscal, feels Devendra Pant, Chief Economist, India Ratings & Research, part of the Fitch Group.
India Ratings today downgraded the outlook of domestic construction sector to 'Negative' due to challenges faced in the execution of projects on account of delays in environment clearances and other issues.