Low oil prices could be a blessing for India as it tackles ongoing budget and infrastructure problems. Unlike many emerging economies, India imports most of its oil from abroad.
Low oil prices have little impact on government revenues.
India's urban poor face an unending struggle to meet skyrocketing costs of living. To solve one of their basic needs, the southern city of Bengaluru is operating canteens that are similar to soup kitchens in the West.
Indian PM Narendra Modi recently concluded a tour of the Middle East and is now hosting Iranian President Rouhani in New Delhi. Incredibly, Modi has been able to maintain good ties with all Middle Eastern rivals.
Economic growth in India is forecast to beat out last year. The emerging economy is thus on track to regain the title of the world's fastest growing major economy, once again overtaking China.
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