Projecting stable growth rate for India, Moody's Investors Service has said the economy would grow at 7.5 per cent in the current fiscal and improve marginally in the following year. The report expect that India's real GDP will grow at 7.5 per cent in the financial year ending March 31, 2016 (FY16) and 7.6 per cent in FY17.These growth rates would be slightly faster than the 7.4 per cent recorded in FY15 and substantially better than from FY12 to FY14, it said in the report. India's average annual expansion of 7.7 per cent over the past decade is one of the fastest growth rates globally. The report also notes that India has weathered the recent volatility in emerging markets much better than peers.