In the area of Public Finance, CRISIL Infrastructure Advisory has assisted the reform-minded state governments in undertaking fiscal reforms. This broadly includes revenue augmentation strategies, expenditure restructuring techniques and debt management measures. We are also involved in the process of accountability improvement across the cross-section of stakeholders of the governments.

CRISIL Infrastructure Advisory has been active in assisting the reform-minded state governments as well as the bilateral/ multilateral institutions in undertaking fiscal reforms in the states.

One of our clients is the Government of Andhra Pradesh, which has constituted Fiscal Reform Implementation Committee, of which we are the members, to accelerate the reforms' process. In the area of expenditure restructuring, we are assisting the government in undertaking sector analysis, efficiency analysis, effectiveness analysis and re-prioritization of expenditure. In the area of debt management, the assistance includes debt-substitution; interest swap and guarantees' risk assessment. The revenue augmentation is focussed mainly on identification of the additional revenue mobilization measures.

» Areas of assistance
» Competence
» Clients & Assignments
» Thought Leadership

Areas of assistance
The areas of assistance include:
• Revenue augmentation,
• Expenditure restructuring,
• Debt management and
• Pensions management

Debt Management is the core area of our offering in Public Finance. The advisory services, in this area, include Diagnostic analysis, Institutional Strengthening and Capability building including training. In addition, we are also involved in the process of accountability reforms across the cross-section of stakeholders of the governments.

Competence
CRISIL, India's leading Ratings, Research, Risk and Policy Advisory company, has always contributed to the shaping of economic policy of India through its credit assessments of state governments as well as its through its inputs on various economic analysis. Backed by its rich experience, CRISIL has been in forefront in assisting and advising governments in the strengthening of state finances.

Clients & Assignments
CRISIL Infrastructure Advisory's multilateral clients include Asian Development Bank (ADB) and Department for International Development (DfID). We have also been actively associated with various prestigious foreign institutions/ companies for prospecting assignments both in India and abroad.

CRISIL Infrastructure Advisory is currently engaged by Asian Development Bank to assist in the Debt Management of Assam. The engagement involves accelerating economic development and improving fiscal sustainability of Assam by restructuring public debt and setting up institutional mechanisms in the state. While debt restructuring would aid in providing immediate relief of lower interest payments for the state, the institutional robustness would help improve accountability and governance of the state.

CRISIL Infrastructure Advisory has assisted Government of Andhra Pradesh in the area of expenditure management and debt management. In expenditure restructuring, we have assisted the government in sector diagnostics, performance monitoring, efficiency tracking, effectiveness assessment and re-prioritization of expenditure. In the area of debt management, the assistance includes debt-substitution and guarantees' management.

Thought leadership
CRISIL has emerged as the thought leader in the 'Public Finance' through its various concept papers and articles, which have been well received by both the academicians and the practitioners. These relate to wide range of issues viz. user charges, guarantees management, debt management, pensions management, performance budgeting and credit policy.

CRISIL is represented on the 'International Institute of Public Finance'. CRISIL has been invited to be a member of Fiscal Reform Implementation Committee constituted by the Government of Andhra Pradesh, to accelerate the reforms' process in the state. This is in recognition of CRISIL's reputation as the credible though leader and professional solutions provider in the area of public finance.