Morgan Stanley on Monday 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.
However, the pace of recovery will be slow in view of macro stability challenges such as high inflation, current account deficit and loan-deposit ratio, Morgan Stanley said adding it has kept its GDP projections for FY14 unchanged at 6.2 per cent in line with this view.
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