RBI has room to cut rates by 50-100 bps

The Reserve Bank of India has room to cut interest rates by 50-100 basis points. 
The time is ripe for a rate cut, and that investment sentiment is turning for the better. 
"The case for cutting their rate is so strong, that whatever the Fed does, we are ripe for a rate cut of maybe say another 50 basis points," he says. 
He says the economy can still grow 8 percent this fiscal despite a sluggish start in the first quarter. 
"They (first quarter GDP numbers) may get revised upward, there is possibility. And I would not write off the prospects for getting past 8 percent growth rate; we have had quarters when we have grown 9-10 percent," he says. 
He says other states can learn from Tamil Nadu, which has amended the earlier Land Acquisition Act with the President's assent. 
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