The government has focused on creating a good macroeconomic environment in the form of low current account deficit, reasonable fiscal deficit and thereby, keep a control on interest rates. The Budget has set in motion places where money comes into assets which are much more productive and positive for the economy like equities and fixed income, and doesn’t flow into physical assets like gold and real estate where incremental capital output ratio is not high. This focus is positive for the mutual fund industry and we could not have a better Budget from the point of view of the mutual fund industry and investors.