BOOM

Trending Searches

    SUPPORT
    BOOM

    Trending News

      • Fact Check 
        • Fast Check
        • Politics
        • Business
        • Entertainment
        • Social
        • Sports
        • World
      • Law
      • Explainers
      • News 
        • All News
      • Decode 
        • Impact
        • Scamcheck
        • Life
        • Voices
      • Media Buddhi 
        • Digital Buddhi
        • Senior Citizens
        • Videos
      • Web Stories
      • BOOM Research
      • BOOM Labs
      • Deepfake Tracker
      • Videos 
        • Facts Neeti
      • Home-icon
        Home
      • About Us-icon
        About Us
      • Authors-icon
        Authors
      • Team-icon
        Team
      • Careers-icon
        Careers
      • Internship-icon
        Internship
      • Contact Us-icon
        Contact Us
      • Methodology-icon
        Methodology
      • Correction Policy-icon
        Correction Policy
      • Non-Partnership Policy-icon
        Non-Partnership Policy
      • Cookie Policy-icon
        Cookie Policy
      • Grievance Redressal-icon
        Grievance Redressal
      • Republishing Guidelines-icon
        Republishing Guidelines
      • Fact Check-icon
        Fact Check
        Fast Check
        Politics
        Business
        Entertainment
        Social
        Sports
        World
      • Law-icon
        Law
      • Explainers-icon
        Explainers
      • News-icon
        News
        All News
      • Decode-icon
        Decode
        Impact
        Scamcheck
        Life
        Voices
      • Media Buddhi-icon
        Media Buddhi
        Digital Buddhi
        Senior Citizens
        Videos
      • Web Stories-icon
        Web Stories
      • BOOM Research-icon
        BOOM Research
      • BOOM Labs-icon
        BOOM Labs
      • Deepfake Tracker-icon
        Deepfake Tracker
      • Videos-icon
        Videos
        Facts Neeti
      Trending Tags
      TRENDING
      • #Operation Sindoor
      • #Pahalgam Terror Attack
      • #Narendra Modi
      • #Rahul Gandhi
      • #Waqf Amendment Bill
      • #Arvind Kejriwal
      • #Deepfake
      • #Artificial Intelligence
      • Home
      • Economy
      • India Trails Neighbours In Economic...
      Economy

      India Trails Neighbours In Economic Freedom: US Think Tank Report

      India lags behind BRICS economies and its immediate neighbours in economic freedom as per report by Heritage Foundation, a US based think tank.

      By - Sneha |
      Published -  21 Feb 2017 1:11 PM IST
    • Boomlive

      India Trails Neighbours In Economic Freedom: US Think Tank Report

      Economic Freedom in India has deteriorated as per analysis of Heritage Foundation, a US based think tank. The 2017 Index of Economic Freedom puts India at rank 143 out of 180 economies with a score of 52.6 against a world average of 60.9 and regional (Asia-pacific) average of 60.4. India still remains in the category of ‘mostly unfree’ ever since 2002 with a dip of 3.6 points from 56.2 and a rank of 123 in 2016.

      “More than half of these people live in just two countries, China and India, where advancement toward greater economic freedom has been both limited and uneven,” the report says about the two Asian giants.

      This comes as a surprise when the current government who came into power with a mandate of development and job creation, is all set for making India the manufacturing hub of the world. The government, who held high the reports cards of the global competitiveness index and corruption perceptions index which marked an improvement, remains silent about the fall in economic freedom.

      As per Heritage Foundation, economically free societies are those in which government permits free movement of labor, capital and goods and ensure the existence of liberty. The index measures economic freedom based on four broad policy areas of law, government size, regulatory efficiency and open markets under which 12 aspects of freedom are evaluated.

      India Trails Neighbours In Economic Freedom: US Think Tank Report

      Source : Heritage.org

      Despite all subjectivity in the score determination, it has to be noted that India falls behind the rest of the BRICS economies and the Asia-Pacific average of 60.4.

      India Trails Neighbours In Economic Freedom: US Think Tank Report

      Note : Lower the rank number, higher the economic freedom

      Source : Heritage.org

      Neighbouring countries like Bangladesh (128), Pakistan (141) and Sri Lanka (112) are ranked better than India in 2017. The comparison points out that if India intends to be an important player in the international arena, we need to be addressing issues of economic freedom.

      Released in 2017, the rank captures data of June 2015 to June 2016 and thus, does not include the effects of demonetisation and other recent developments in India. However, the report points to a poor fiscal health, judicial effectiveness and labour freedom. The government may not be interested in taking this report at face value, attributing to a dip in the ranking. However, paying attention to these aspects and accepting it as broad guidelines could in fact help solve the puzzles in India’s path to development.

      Tags

      BangladeshcapitalEconomic Freedomfiscal healthgovernmentHeritageIndialabour freedomlibertyManufacturingPakistanSri LankaChina
      Read Full Article
      Next Story
      Our website is made possible by displaying online advertisements to our visitors.
      Please consider supporting us by disabling your ad blocker. Please reload after ad blocker is disabled.
      X

      Subscribe to BOOM Newsletters

      👉 No spam, no paywall — but verified insights.

      Please enter a Email Address
      Subscribe for free!

      Stay Ahead of Misinformation!

      Please enter a Email Address
      Subscribe Now🛡️ 100% Privacy Protected | No Spam, Just Facts
      By subscribing, you agree with the Terms & conditions and Privacy Policy connected to the offer

      Thank you for subscribing!

      You’re now part of the BOOM community.

      Or, Subscribe to receive latest news via email
      Subscribed Successfully...
      Copy HTMLHTML is copied!
      There's no data to copy!