New Delhi, Aug. 6 -- Better-than-expected growth, lower-than-expected inflation, and healthy foreign exchange reserves -- that's the summary view of the Monetary Policy Committee (MPC) of the Reserve Bank of India at its latest meeting on Wednesday, and it suggests that the economy negotiated the turbulence of the war in West Asia, and the consequent spike in oil prices well. The Indian economy has performed better than expected in the June quarter in terms of growth, with an estimated expansion of 7% according to the Reserve Bank of India . Inflation, while it has increased, is lower than expected, and more importantly, does not suggest widespread price pressures in the economy beyond food and fuel. India's external balance situation has i...