The growth of India’s GDP at factor cost(constant prices) rose to 5.7% in 1QFY15 from 4.6% in the previous two quarters, above the street expectations. The biggest contributor has been the non-agricultural growth, rising to a 11 quarter high of 6.0% in 1QFY15. This growth has happened at a time when the new government had been in office for a period of 40 days. The feel good factor continues to remain high not withstanding the issues relating to the coal block allotments and iron ore production issues. The global liquidity continues to remain robust with the FIIs pumping strong positive flows into the market. We believe that should these scenario continue, the growth rates can see a sharp increase in excess of 6.0% for FY16.