Skip to main content

India slips in economic freedom index to 114th position, below China and Nepal: Top western institutes

By Our Representative
The latest Economic Freedom Index report, prepared by three of the west's well-known neo-liberal institute, has ranked India at 114th position in the world, below China, which has been ranked No 111th. Titled “Economic Freedom of the World: 2015 Annual Report”, the top report, ironically, has found that India ranked pretty high in economic freedom before liberalization was introduced in 1991, but following some improvement, it again began slipping.
Thus, the report's data suggest that India ranked No 57th in 1980 and 81st in 1990. It slightly improved its position to 75th in 2000 and 78th in 2005. Then the fall began – it was 111th in 2010, 102nd in 2012, and the worst was in 2013, the last year for which the data has been collected, when it reached the 114th position. The report has been co-published by the Cato Institute (US), the Fraser Institute (Canada), and the Liberales (Switzerland).
Ranking 157 countries, the report has found Hong Kong ranking No 1, followed, interestingly, by Singapore, which has one of the world's most controlled political systems. Others in the top ten are New Zealand, Switzerland, United Arab Emirates, Mauritius, Jordan, Ireland, Canada and the United Kingdom.
Other major countries' rankings are Australia 11th, the United States 16th, Japan 26th, Germany 29th, South Korea tied for 39th, Italy 68th, France 70th, Mexico 93rd, Russia 99th, and Brazil 118th. The 10 lowest-rated countries are: Angola, Central African Republic, Zimbabwe, Algeria, Argentina, Syria, Chad, Libya, Republic of Congo, and, lastly, Venezuela.
Among other neighbours, interestingly, Bangladesh ranks just next to India, on the 115th position, and Pakistan is ranked way down, occupying the 124th position. Neipal ranks better than India, on the 106th position.
Coming to individual areas, India ranks 35th in size of government, 83rd in legal system and property rights, 134th in sound money, 135th in freedom to trade internationally, and 123rd in regulations. At the same time, the report ranks India as one of the ten worst ranking countries in other categories – life satisfaction and life control. Here, it is in the company of Pakistan, Ethiopia, Rwanda, Zimbabwe, Egypt and others.
Ranking countries on a scale of 10, the report states, “Global economic freedom increased slightly in this year’s report, but remains below its peak level of 6.92 in 2007. The average score increased to 6.86 in 2013, the most recent year for which data is available.” India's score on a scale of 10 is 6.43, below world average.
Giving the index of others, the report states, “In this year’s index, Hong Kong retains the highest rating for economic freedom, 8.97 out of 10. The rest of this year’s top scores are Singapore, 8.52; New Zealand, 8.19; Switzerland, 8.16; United Arab Emirates, 8.15; Mauritius, 8.08; Jordan, 7.93; Ireland, 7.90; Canada, 7.89; and the United Kingdom at 7.87.”
“The United States, once considered a bastion of economic freedom, now ranks 16th in the world with a score of 7.73. Due to a weakening rule of law, increasing regulation, and the ramifications of wars on terrorism and drugs, the United States has seen its economic freedom score plummet in recent years, compared to 2000 when it ranked second globally”, the report says.
“Nations in the top quartile of economic freedom had an average per capita GDP of US$38,601 in 2013, compared to US$6,986 for bottom quartile nations”, the report says, adding, “Moreover, the average income of the poorest 10% in the most economically free nations is about 50% greater than the overall average income in the least free nations.”
It further says, “Life expectancy is 80.1 years in the top quartile compared to 63.1 years in the bottom quartile, and political and civil liberties are considerably higher in economically free nations than in unfree nations.”
The first Economic Freedom of the World Report was published in 1996, a result of a decade of research by a team which included several Nobel Laureates and over 60 other leading scholars in a broad range of fields, from economics to political science, and from law to philosophy.
This is the 19th edition of Economic Freedom of the World report.

Comments

TRENDING

'Flawed' argument: Gandhi had minimal role, naval mutinies alone led to Independence

Counterview Desk Reacting to a Counterview  story , "Rewiring history? Bose, not Gandhi, was real Father of Nation: British PM Attlee 'cited'" (January 26, 2016), an avid reader has forwarded  reaction  in the form of a  link , which carries the article "Did Atlee say Gandhi had minimal role in Independence? #FactCheck", published in the site satyagrahis.in. The satyagraha.in article seeks to debunk the view, reported in the Counterview story, taken by retired army officer GD Bakshi in his book, “Bose: An Indian Samurai”, which claims that Gandhiji had a minimal role to play in India's freedom struggle, and that it was Netaji who played the crucial role. We reproduce the satyagraha.in article here. Text: Nowadays it is said by many MK Gandhi critics that Clement Atlee made a statement in which he said Gandhi has ‘minimal’ role in India's independence and gave credit to naval mutinies and with this statement, they concluded the whole freedom struggle.

A Hindu alternative to Valentine's Day? 'Shiv-Parvati was first love marriage in Universe'

By Rajiv Shah*   The other day, I was searching on Google a quote on Maha Shivratri which I wanted to send to someone, a confirmed Shiv Bhakt, quite close to me -- with an underlying message to act positively instead of being negative. On top of the search, I chanced upon an article in, imagine!, a Nashik Corporation site which offered me something very unusual. 

Maize, bajra, jute, banana cultivation banned off West Bengal border: Plea to NHRC

Counterview Desk  West Bengal-based human rights defender Kirity Roy, who is secretary, Banglar Manabadhikar Suraksha Manch, and is national convenor of the Programme Against Custodial Torture & Impunity, in a representation to the chairman, National Human Rights Commission, second within few days, has bought to light one more case of trespassing and destruction of a fertile banana plantation by BSF personnel along the Indo-Bangladesh border, stating, despite a written complaint to the police has taken "no initiative".

India second best place to invest, next to UAE, yet there is 'lacks support' for IT services

By Sreevas Sahasranamam, Aileen Ionescu-Somers*  The United Arab Emirates (UAE) is the best place in the world to start a new business, according to the latest annual Global Entrepreneurship Monitor (GEM) survey. The Arab nation is number one for the third year in a row thanks to a big push by the government into cutting-edge technology in its efforts to diversify away from oil.

Living standards in 'model' Gujarat worse than major states: Govt of India document

By Rajiv Shah  Amidst raging controversy over whether the latest Government of India’s “Household Consumption Expenditure Survey 2022-23 Fact Sheet: August 2022-July 2023” suggests that India’s poverty levels are actually down to 4.5 to 5%  during the decade-long Narendra Modi rule, a state-wise breakup in the 27-page document shows that “model” Gujarat’s average consumption expenditure is far below most of the so-called developed states.

Mahanadi delta: Aggressive construction in flood plains, reduced fish stock, pollution

By Sudhansu R Das  Frequent natural calamities, unemployment, low farmers’ income, increase in crime rate and lack of quality human resources to strike a balance between growth and environment etc. continue to haunt the state. The state should delve into the root causes of poverty, unemployment and natural calamities.

Buddhist shrines were 'massively destroyed' by Brahmanical rulers: Historian DN Jha

Nalanda mahavihara By Our Representative Prominent historian DN Jha, an expert in India's ancient and medieval past, in his new book , "Against the Grain: Notes on Identity, Intolerance and History", in a sharp critique of "Hindutva ideologues", who look at the ancient period of Indian history as "a golden age marked by social harmony, devoid of any religious violence", has said, "Demolition and desecration of rival religious establishments, and the appropriation of their idols, was not uncommon in India before the advent of Islam".

Not livable in summer, Chitrakut PM-Awas houses 'push' tribals in moneylender trap

By Bharat Dogra*  Those who are in-charge of implementing the PM-Awas scheme of rural housing can rightly take pride in what has been achieved in Dafai hamlet (Karvi block, Chitrakut district, Uttar Pradesh). All the Kol tribal families here are extremely poor and vulnerable. In a rare achievement, almost all of them have received housing assistance under PM Awas. 

Narmada Valley's fossil evidence: Ground for 'nationalists' to argue primates' India roots?

By Saurav Sarkar*  In December 1982, a geologist digging in India’s Central Narmada Valley found something he did not expect. Arun Sonakia, who at the time worked for the Geological Survey of India, unearthed a hominid fossil skullcap from the Pleistocene era. The discovery sent shockwaves through the field of paleoanthropology and put South Asia on the map of human prehistory. Some experts concluded that the skull likely belonged to a member of a predecessor species of ours, Homo heidelbergensis , or perhaps was a hybrid of homo species, while Sonakia himself suggested “ an affinity… to Homo erectus .”

Development? This tribal hamlet in Chitrakut has no toilets, no electricity connections yet

By Bharat Dogra*  As we moved away from the starting point of the Bundelkhand Expressway and a famous pilgrimage site into a side-road, the hills of Chitrakut here appeared to be more and more isolated. Another turn, and we appeared to have reached almost a dead-end. However it is here that over 80 households of the Kol tribal community have been living for a long time.