Morgan Stanley raises India's FY13 GDP forecast
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)
- Tweet this
- Share this
- Digg this
- Sweden gets two new sightings, as hunt for undersea intruder goes on
- U.S. to funnel travelers from Ebola-hit region through 5 airports
- UPDATE 4-NY says Ocwen backdated foreclosure letters, company shares slide
- New Total boss must overhaul exploration strategy, pursue cost cuts
- Coca-Cola announces growth plan as profit falls 14 pct
As well as making the lives of millions of middle class Indians easier, the sharp drop in Brent crude prices since June is a boon for Prime Minister Narendra Modi in his fight to revive an economy growing at its slowest rate since the 1980s. Full Article