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Morgan Stanley raises India's FY13 GDP forecast
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An Indian labourer walks back to his house after working at a construction site in Chandigarh November 29, 2005.
Credit: Reuters/Ajay Verma/Files
MUMBAI |
MUMBAI (Reuters) - Morgan Stanley has raised India's FY13 GDP growth forecast to 5.4 percent from 5.1 percent, citing better-than-expected GDP growth for the September quarter and also the stabilization in non-agriculture growth indicators.
India's economy grew 5.3 percent from a year earlier in the July-September period, provisional GDP data showed on Friday.
The investment bank also said it thinks non-agriculture GDP growth has bottomed.
(Reporting by Abhishek Vishnoi; Editing by Jijo Jacob)
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