While the NDA Government is going ga-ga over the double-digit GDP growth rate, global rating agency Moody’s says India cannot sustain the growth registered in the third quarter. In its annual report, the US-based firm said the momentum is likely to slow down to 6.5 per cent in the coming period. The 10.4 per cent GDP growth rate, the highest in the world, was mainly led by a recovery in the farm sector after a prolonged drought, the agency said. The NDA has been projecting the high growth rate as a big achievement in the run-up to polls. Moody’s lead sovereign analyst Kristin Lindow cautioned that growth, and its positive effects, will be difficult to sustain in the absence of increased investment in human and physical infrastructure and a fiscal adjustment. On a positive note, Lindow said: ‘‘Even at ‘just’ 6.5 per cent, India is likely to attract much more capital going forward than has been the case historically.’’
