Morgan Stanley lowers India's 2012 GDP forecast to 7.4%

Investment banking major Morgan Stanley has revised downwards its India's economic growth forecast for 2012 to 7.4 percent.

Morgan Stanley cuts global growth forecasts

Morgan Stanley slashed its global growth forecast for 2011 and 2012, saying the US and the euro zone were "dangerously close to a recession", and criticised policymakers in Washington and Europe for not acting more decisively to contain the sovereign debt crisis.