Mukul Kochhar, co-head institutional equities at Investec Capital Services, spoke to CNBC-TV18 about the country's fiscal deficit and economic growth.

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"Consumer price inflation is well contained even with oil going we never saw that transmitting to consumer price just because the economy is becoming more efficient," Kochhar said on Thursday.

“GST has made the economy more efficient and we were able to absorb an oil price shock, the way we handled it, which is a substantial positive. Fiscal deficit, on the central level, seems to be under control. So macro is looking relatively stable,” he added.

“I am not too worried in the near term about the macro election; valuations are okay, in fact in the beta sectors like banking etc. valuations are looking very. Pricing has never been better because some of the competitors have gone out, funding cost is okay. So very positive on banking today,” he said.

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