India GDP to hit 6.3% in 2015: Morgan Stanley

Major bank Morgan Stanley said India would have the fastest economic expansion among Asian countries and its gross domestic product is expected to grow by 6.3 per cent in 2015.

During its Annual Asia Pacific Summit, the bank said India’s gross domestic product is expected to grow by 6.3 per cent in 2015, up from 5.3 this year.

Indian rupee’s exchange rate to US Dollar would be at Rs 62.2 by end of next year compared to Rs 62 in the current quarter (Q4 this year).It is seen at Rs 62.5 in the first two quarters of next year and Rs 62.3 in the third quarter of next year, the bank said.

Strong capital inflow and the current account deficit under-two per cent would add upward pressure on the Rupee. Reforms are providing confidence in the Indian economy growth.

The Indian government’s policy action to improve business environment and lower oil prices are among the factors supporting the GDP growth, it said.