Is the Private Capex Cycle Going to Take Off?

There is no reason for central banks to make a U-turn and say, let's start lowering rates in any time in the near future. And we are looking at a 25 basis points hike in the month of April. That is now thereafter, I think RBI would want to become a little bit more conditional on data. But we definitely do not rule out the rate-tightening cycle continuing beyond April. We believe that the MPC hawks will definitely outweigh the doves as far as the upcoming policy was concerned.