The Indian economy is expected to clock a 6-6.3% growth in the June quarter, Moody's. It flagged risks of fiscal slippage arising from weaker-than-expected government revenues in the current fiscal.

• Moody's growth estimate is lower than the 8% projection for the first quarter made by the Reserve Bank last week. 
• Moody's Investors Service Associate Managing Director Gene Fang said India has a relatively high level of general government debt at around 81.8% of GDP for 2022-23, and low debt affordability.
• India, he said, has a high growth potential and its credit strengths include a stable domestic financing base for government debt, as well as a sound external position.
• The fiscal deficit, which is the difference between government expenditure and revenue, narrowed to 6.4 per cent of GDP in 2022-23 from 6.7 per cent in 2021-22.