Economic Freedom Index 2017

  • India ranked 143 / 186 countries
  • Index measures degree of economic freedom in the countries of the world
  • The index was released by top US based Think Tank, The Heritage Foundation
  • In this edition India’s score was less than last year
  • India’s rank was 123 last year
  • The score is based on ten factors of economic freedom, separated into four categories, using statistics from international organizations like World Bank, IMF, Economist Intelligence Unit and Transparency International.
  • Hong Kong is 1st
  • What report says about India:
    • India’s progress on market-oriented reforms has been uneven.
    • India has combination of advance technology and manufacturing sectors of developed world as well as traditional sectors, characteristic of a lesser developed economy.
    • Extreme wealth and poverty coexist in India as it both modernises rapidly and struggles to find paths to inclusive development for its large population.
    • India is a significant force in world trade, but underdeveloped infrastructure, corruption and poor management of public finance undermines its overall development.
    • Praised efforts of Prime Minister Narendra Modi for giving a new energy and strength to Indian Foreign Policy.
    • PM has strengthened India’s bilateral ties with US particularly in defence cooperation

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