\nAccording to the global consulting firm, the Indian economy has experienced \u201cbroad improvements\u201d in the macroeconomic conditions and especially the low energy prices have eased inflationary pressures and reduced import bills. \u201cConditions in India appear to be improving and growth through 2016 is forecast at around 6.5 per cent,\u201d the report said.
\nFalling oil prices weigh heavily on growth prospects for commodities-dependent Brazil and Russia, while countries like China and India are benefiting from easing inflationary pressures, it added.
\n\u201cChina and India have both experienced broad improvements in macroeconomic conditions, especially as low energy prices eased inflationary pressures and import bills,\u201d the report said adding that while financial markets gained in China it remained \u201cvolatile\u201d in India.
\nThe Consumer Price Index-based inflation rose to 5.11 per cent in January, from 4.28 per cent in December.
\nFood inflation in January was 6.13 per cent, according to official data.
\nThe price of the Indian basket of crude oil on May 26, 2014, the day the Narendra Modi-led government was sworn in, was USD 108.05 per barrel. It had fallen by around 60 per cent to USD 43.36 per barrel by January 14, 2015.
\n\u201cAlthough the net impact of the lower prices will differ by country, a very rough estimate of the potential consumer savings is nearly USD 450 billion, which represents a considerable transfer of wealth from producing to consuming countries,\u201d the report added.
\nMeanwhile, \u201cgeopolitical instability\u201d was cited as the leading risk to global growth in McKinsey\u2019s global survey of nearly 1,700 business leaders at the end of 2014.
\nOther significant \u201crisks\u201d are the conflict between Russia and Ukraine; China\u2019s downshifting economic pace; Greece\u2019s unresolved status in the eurozone among others.<\/p>\n","protected":false},"excerpt":{"rendered":"