A flurry of reforms have improved India's growth prospects in 2013, global rating agency, Moody's said today. Moody's said in a report, that growth prospects have improved with a new finance minister, and a flurry of pro-business reforms designed to lift the economy. It said these moves are working.The rating agency further said that near-term risks around India's fiscal and external deficits have receded. Business groups are more upbeat and this will translate into better investment and GDP growth, but not until well into 2013. It said the moves help to lock in its longer-term outlook.The report also said that Asia's economies have weathered the global downturn, and will enter 2013 in comparatively good shape. Risk levels appear manageable, domestic policy settings remain highly accommodative, and the global outlook has begun to stabilize.