Morgan Stanley raises GDP forecast

 Morgan Stanley has raised India's growth forecast for the current financial year to 5.4 per cent from 5.1 per cent projected earlier citing better than expected GDP growth in the September quarter and stabilisation in non-agriculture growth indicators.

“We raise our GDP growth forecast for fiscal 2013 to 5.4 per cent from 5.1 per cent based on the better than expected GDP growth for quarter ended September and also stabilisation in non-agriculture growth indicators,” Morgan Stanley said.

The headline GDP growth of India will be at 5.4 per cent in fiscal year 2013 (up from 5.1 per cent projected earlier) and 6.2 per cent (unchanged) in fiscal 2014. The Indian economy registered a GDP growth of 5.3 per cent for the quarter ended September. The economy grew by 5.5 per cent growth in the June quarter and 6.7 per cent in the quarter ended September 30, 2011.