As at March 31, 2018 As at March 31, 2017 Discount rate 7.80% 7.00% Attrition rate 7.80% 7.00% Rate of return on plan assets 7.80% 7.00% Salary growth rate 8.27% 7.00% Particulars Particulars As at March 31, 2018 As at March 31, 2017 Present value of funded obligations 34.74 25.67 Fair value of plan assets (27.13) (18.64) Deficit of gratuity plan 7.60 7.04 Significant estimates: Actuarial assumptions and sensitivity The significant actuarial assumptions were as follows: Particulars Sensitivity analysis The sensitivity of the defined benefit obligation to changes in the weighted principal assumptions is: Particulars Discount rate 1.00% 0.50% (1.69) (24.89) 1.88 26.50 Attrition rate 1.00% 0.50% (0.14) (25.72) 0.14 25.62 Rate of return on plan assets 1.00% 10.00% (1.69) (24.89) 1.88 26.50 Salary growth rate 1.00% 0.50% 1.85 26.25 (1.70) (24.89) The above sensitivity analyses are based on a change in an assumption while holding all other assumptions constant. In practice, this is unlikely to occur, and changes in some of the assumptions may be correlated. When calculating the sensitivity of the defined benefit obligation to significant actuarial assumptions, the same method (present value of the defined benefit obligation calculated with the projected unit credit method at the end of the reporting period) has been applied as while calculating the defined benefit liability recognised in the Balance Sheet. The methods and types of assumptions used in preparing the sensitivity analysis did not change compared to the prior year. Change in assumptions March 31, 2018 March 31, 2017 March 31, 2018 March 31, 2017 March 31, 2018 March 31, 2017 Impact on defined benefit obligation Increase in assumptions Decrease in assumptions Major category of plan assets are as follows: March 31, 2018 March 31, 2017 Investment funds Traditional fund - 25.61 25.61 99% - 12.61 12.61 68% Others Bank balance - 0.19 0.19 1% - 6.03 6.03 32% - 25.80 25.80 100% - 18.64 18.64 100% Quoted Total Unquoted in % Quoted Total Unquoted in % Rudolf Atul Chemicals Ltd | Annual Report 2017-18 The net liability disclosed above relates to funded and unfunded plans: (` lakhs) (` lakhs) (` lakhs)
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