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

#MeToo moment in Hyderabad Urdu varsity? Two girl students seek action against authorities

Counterview Desk
Has the #MeToo movement reached Maulana Azad National Urdu University (MAANU)? It would seem so if a recent letter by newly-appointed chancellor Firoz Bakht Ahmed to MAANU vice-chancellor Dr Aslam Parvaiz is any indication. Seeking reinstatement of two girl victims of “sexual harassment and humiliation”, the letter specifically names head of the department of the Media Centre for Journalism, suspecting, the problem could be much deeper.
Text of the letter: It is a matter of utmost perturbation for me to receive the two representations from the girls studying in the MCJ (Media Center for Journalism) regarding their sexual and subsequently, mental and social harassment at the hands of Prof Ehtesham Ahmad Khan, the HOD, MCJ.
We do not know, how many girls have been exploited by him and preferred to be silent for saving their family’s honour; however, there are two brave girls who stood to the depraved advances and misuse by Prof Ehtesham and came up with written complai…

"Ineligible" funding of Sardar Statue in Gujarat: CAG tells Central PSUs, it's not a heritage CSR activity

By Our Representative
The Comptroller and Auditor General (CAG) of India, in its recent report on Central Public Sector Enterprises (CPSE), has qualified public sector undertakings’ (PSUs') funding the 182-metre world’s highest Sardar Statue, currently being constructed in the Narmada river downstream of the Sardar Sarovar dam as an “ineligible” corporate social responsibility (CSR) activity.

Gujarat BJP MLAs, youth leader "incited" attack on North Indians: Cong releases video

Counterview Desk
Senior Gujarat Congress leader Shaktisinh Gohil, currently in charge of Bihar and national spokesperson, All-India Congress Committee, has sent a legal notice to chief minister Vijay Rupani threatening criminal case and civil defamation suit for accusing him with "baseless statement" that he was responsible for attacks on north Indians in Gujarat.

29th "NRC-related" suicide in Assam, as Nirod Baran Das takes his life by hanging on a fan

By Our Representative
Reporting 29th case of National Register of Citizens (NRC)-driven suicide in Assam, one of India’s human rights campaign sites has said that, on October 20, tragedy struck Kharupetia town in Darrang district of Assam, when a retired school teacher and advocate Nirod Baran Das “took his life by hanging himself to a fan in his home.” The report adds, “The NRC process has so far claimed over two dozen such lives in the past four months alone.”

"Highly irregular" for PSUs to fund Sardar Statue under Corporate Social Responsibility

Counterview Desk
In a letter to I Srinivas, secretary, Ministry of Corporate Affairs, Government of India, former secretary (economic affairs), Ministry of Finance, EAS Sarma, has raised questions on the funding of the Sardar Patel statue in South Gujarat by Central Public Sector Undertaking (CPSUs) relying on the Comptroller and Auditor General report (No 18/2018).

Post-MJ Akbar resignation: #MeToo movement and fears of backlash

By Sheshu Babu*
For the last few days, #MeToo movement has picked up momentum and many women are coming out with horrific tales of severe harassment in their past lives. They are not afraid anymore to expose famous persons including those at ministerial levels. As a senior journalist Neeraja Chowdhury opined (“An exit, a beginning”, October 18, 2018, indianexpress.com), "The #MeToo revelations are like the eruption of a volcano which was imminent, given the journey working women have covered. It was not easy to make public what they had gone through,and take on powerful men.”

Murder of Tamil Nadu teenage Dalit girl: "Stoic silence" despite #MeToo movement

Counterview Desk
Brinelle D'souza, who is with the Centre for Health and Mental Health, School of Social Work, Tata Institute of Social Sciences, Mumbai, has prepared a strong statement to protest the brutal murder of 13-year-old Rajalakshmi. "Other than a few media reports, this gruesome killing has not caught national attention despite a very vibrant #MeToo campaign currently underway", regrets D'souza.

Bank account frozen, raid on Amnesty office: Govt of India "treating" human rights NGOs like criminal enterprises

By Abhirr VP*
Amnesty India’s bank accounts have been frozen by the Enforcement Directorate, effectively stopping its work. Amnesty India is thus the latest target of the government’s assault on civil society in the country. The accounts of Greenpeace India were frozen earlier this month.

J&K Governor's rule: BJP's "failure" to go ahead with 44-plus strategy

By Syed Mujtaba Hussian*
Jammu and Kashmir (J&K) continues to witness cataclysm of events ever since the killing of editor-in-chief of “Rising Kashmir”, Shujaat Bukhari, followed by the BJP’s deliberated parting of ways with its coalition partner, People’s Democratic Party (PDP) and imposition of Governor rule.

NTPC's "poor" track record on workers' safety, whether permanent or on contract

Counterview Desk
A recent report, “The Dark Side of NTPC: A Critical Look at the Social and Environmental Footprints of NTPC”, traces the performance of one of the four Navaratnas which also happens to be a Fortune 500 company, the National Thermal Power Corporation (NTPC), pointing out that, while it has played, for over four decades, “pivotal role” in India’s quest for development, this development was energy intensive and has caused “a plethora of negative impacts to people, environment and sustainability over the years.”