India is now at that crucial stage where inflation is falling, growth has slowed down _____________ and more interest rate cuts are _____________. However, the timing of these rate cuts is a bit _____________ as the inflation trajectory is still not very clear. One has to remember that India has witnessed continuously high inflation over the last 7 years and, therefore, the central bank would likely to wait for concrete proof that inflationary expectations have been broken before cutting rates _____________.