I think earnings are still to come, we all know that so I think the risk reward is on balance. I think right now the flows will predominate. We could see 2017 as headline year in terms of flows into domestic mutual funds. We could see upwards of USD 20 billion for the year. So, this is clearly something which is a very positive development

Also the foreign outflows that we have seen have started slowing down and we could see neutral to a slightly positive numbers for the year for foreign inflows, so I think flows would be very positive especially in a near term which is holding the markets up.

The real challenge will be how and where and what is extent of earning growth. I think earning growth should come back from June onwards.

 "Right now is a good time to buy; don’t step back,’’ ‘’Markets will present opportunities this year".

The sectors which currently are doing well will of course see faster earnings growth. But the broader economy and the CAPEX will also probably come through by the end of this year. So, this is going to be good year 2017.

On rate cut: "I expect a cut of 25 basis points "."We are in a position where rates can be cut substantially, by around 50-75 basis points by the end of the year".