Moody's forecasts Indian GDP to rise 6.2% in FY2013

Global rating agency Moody's expects Indian gross domestic product to bounce back to 7% next fiscal year, at the same time it changed the country's economic growth forecast from 5.1% to 6.2% for the fiscal year 2013 on Thursday. The rating agency also projects India's inflation to decrease to six per cent, giving the central bank an incentive for the expected interest rate cut.