India's economy grew at 4.8 per cent in the October-December quarter of this financial year, according to global rating agency Moody's estimates.

Moody's, which released its estimated figures for the Indian economy ahead of official data, also said that the economy was unlikely to accelerate much in 2014, though risks have retreated on account of falling inflation and narrowing current account deficit (CAD).

In the report titled "India Underwhelms," the global rating agency said, "The economy is now much better placed to weather US Fed (Federal Reserve) tapering and other downside risks in 2014. But there is no sign of a lift in the real economy."

The reported added underlined that the upcoming general election would offer the chance for better governance, particularly in case the business-friendly Narendra Modi becomes the prime minister of the country.

Meanwhile, foreign as well as domestic investors are eagerly waiting to listen to BJP's prime ministerial candidate Narendra Modi, who will deliver a speech at the India Economic Convention 2014 that is all set to start on Thursday in New Delhi.

Investors believe that Mr. Modi's speech would provide details of his economic vision for the country. Sources said Mr. Modi would lay out his vision of a job-driven economy, with special focus on the power and manufacturing sectors.