New Delhi, Sep 3 - Global consultancy Moody's, which last week contended that the drought would bring India's growth down to 6.2 percent, Thursday revised its prediction to say the 'stronger-than-expected start' this fiscal spelt a 6.4 percent growth in 2009-10, and 9 percent by 2012-13.
'India's June quarter economic performance surprised slightly on the upside. On a year-ago basis, GDP growth accelerated to 6.1 percent compared to (our) forecast of 5.9 percent,' said Sherman Chan, economist with Moody's Economy.com, the research arm of Moody's.
'The stronger-than-expected start of the fiscal year has prompted Moody's Economy.com to revise India's annual growth forecast from 6.2 percent to 6.4 percent,' Chan added.
'Like China, India has ample long-term growth potential, especially with its large population and vast underdeveloped areas. The need to improve infrastructure will keep overall economic activity buoyant in coming years.'
Last week, Moody's had said GDP growth in 2009 would be 'mildly slower than in 2008', and predicting it would slow to 6.