RStudio Error: package ‘forecast’ is not available (for R version 3.0.1)

When I tried to install 'forecast' package in RStudio, I got this error:

Warning in install.packages :
  package ‘forecast’ is not available (for R version 3.0.1)

Based on the search results, I need to install the latest version of R and restart RStudio for the changes to take effect.

Update R version using RGui (You can do this even in RStudio, but I felt it is slow) using this code:

if(!require(installr)) { 
+ install.packages("installr"); require(installr)} 

updateR() 

(Referene: http://www.r-statistics.com/2013/03/updating-r-from-r-on-windows-using-the-installr-package/)

R installer will be opened and you need go through the installation wizard. Then the packages will be installed in the new R version and will be updated.

No I can install forecast package in RStudio.

install.packages("forecast")
library(forecast)