India's economic freedom rank, at 112, better than China, Brazil: Fraser Institute report based on 2014 data

By Our Representative
Well-known Canada-based Fraser Institute's "Economic Freedom of the World (EFW) 2016 Annual Report" has ranked India No 112 among 159 countries and territories in its latest EFW ranking, better than two major peer countries, China (No 113) and Brazil (No 124).

The report uses 2014 data, when the Narendra Modi government came to power.
The other two peer countries of the BRICS nations – South Africa and Russia – are found to perform better than India, 105th and 102nd, respectively. BRICS stands for Brazil, Russia, India, China and South Africa.
The 320 page report, released last week, says insists that if low-income countries “adopt policies more consistent with economic freedom, convergence will occur and the income gap decline.” It believes, “The gap in economic freedom between the rich and poor nations of the world narrowed and so too did the income gap.”
“After two centuries of expanding income inequality, the trend has reversed. Worldwide, income inequality is now declining”, it claims, adding, “Xavier Sala-i-Martin of Columbia University and Maxim Pinkovskiy of the Federal Reserve Bank of New York examined the data on this issue in great detail.”
The report insists, “To a large degree, these trends were driven by the rapid growth of populous countries, particularly China and India. While the ranking of both is still low, the EFW rating of China has increased substantially since 1980 (and India’s rating since 1990).”
Pointing out that “conceptually, economic freedom is present when economic activity is coordinated by personal choice, voluntary exchange, open markets, and clearly defined and enforced property rights”, the report measures its EFW rating on the basis of five major areas: size of government, legal system and security of property rights, sound money, freedom to trade internationally, and regulation.
Interesting, in the size of government, India ranks quite high, 8th, in legal system and property rights it ranks 86th, in sound money it ranks 130th, in freedom to trade internationally it ranks 144th, and in regulation it ranks 132nd.
Providing a few more rankings, the report finds that in credit market regulations it ranks 139th, in labour market regulations it ranks 99th, and in business regulations it ranks 73rd.
Hong Kong and Singapore occupy the top two positions, the report says. The other nations in the top 10 are New Zealand, Switzerland, Canada, Georgia, Ireland, Mauritius, the United Arab Emirates, and Australia and the United Kingdom, tied for 10th, it adds.,
Other major countries’ rankings are the United States (16th), Germany (30th), Japan (40th), South Korea (42nd), France (57th), Italy (69th), Mexico (88th).
The report believes, “Nations that are economically free out-perform non-free nations in indicators of well-being nations in the top quartile of economic freedom had an average per-capita GDP of $41,228 in 2014, compared to $5,471 for bottom quartile nations (PPP constant 2011 US$).”
“In the top quartile, the average income of the poorest 10% was $11,283, compared to $1,080 in the bottom quartile in 2014 (PPP constant 2011 US$)”, the report says, adding, “Interestingly, the average income of the poorest 10% in the most economically free nations is twice the average per-capita income in the least free nations.”
Taking the same logic forward, the report says, “Life expectancy is 80.4 years in the top quartile compared to 64.0 years in the bottom quartile. Political and civil liberties are considerably higher in economically free nations than in unfree nations.”
---
Click HERE to download report

Comments

You promised 50 lakh houses, give us one: Ahmedabad migrant women's plea to Modi

Women display letters containing rakhi for PM By Hirabhai Solanki, Bhartiben Dantani, Ramesh Shrivastav* Poor labouring families, including seasonal or long-term migrants of nearly 15 squatter settlements -- working as construction and casual workers and petty vendors, providing cheap but critically important labour for Ahmedabad city, living under plastic sheetings -- have reminded the Gujarat and Central Governments about the promise made by Prime Minister Narendra Modi of building 50 lakh dwellings, wherein every pavement dweller and homeless would be given a decent home by the end of 2022. Holding a meeting in Ahmedabad under the aegis of the Majur Adhikaar Manch, they also referred to the appeal of the Prime Minister to poor and labouring women, seeking his support as brother by sending rakhis to protect their humble basti dwellings and provide them with decent housing, which is secure for them and their families. So far, about 300 women have posted rakhis to the Prime Ministe

A tale of horror and fraud: Profits in trillions of dollars for vaccine manufacturers?

By Aruna Rodrigues* John Leake is a best-selling and “experienced non-fiction, true crime author”. Having just read what must be described as an extraordinary ‘telling’ of the Covid-19 saga, his book “The Courage to Face Covid-19: Preventing Hospitalization and Death While Battling the Bio-Pharmaceutical Complex”, co-authored with Peter A McCullough, MD, MPH, is the narration of true crime on a scale that could top the list in the history of ‘man’s inhumanity to man’. The book chronicles the unique role of national governments across the world and their health agencies, led by the USA and WHO, which followed an agenda that led to completely avoidable fatalities numbering several million. The question is why? The usual culprits are money and power. But to ascribe cause to these two is woefully insufficient. The sheer magnitude of the ‘dark agenda’ – coordinated and played out by governments, health agencies, the medical establishment (hospitals, doctors and chemists) and the massive a

A countdown to disaster: Breach in fly-ash bunds of Nagpur's thermal power plants

Fly-ash dyke, Koradi thermal power plant By Dhwani Shah, Deepmala Patel* Last month the residents of several villages of Nagpur district woke up to the nightmare of being inundated with fly-ash. Located in the north of Nagpur city are Koradi and Khaparkheda thermal power stations which have their ash dykes in the vicinity. On July 10, 2022 at 3 am, the ash dyke of the Khaparkheda thermal power station broke, leading to ash contaminating the Kanhan river. Though the authorities claimed to have acted quickly and the fly ash dumping in the river was stopped, the claim stood to be misleading and false. Even today, the Kanhan river continues to be polluted with fly-ash, and the water supply to the city is affected. Not only did ash dyke of the Khaparkheda power station break, on July 16, 2022, the ash bund of the Koradi thermal power plant also broke. Fly-ash and water stored in the dyke gushed downstream to six villages -- drowning houses, water bodies and farmlands. With such large-

Kailash Satyarthi NGO floats new centre in Delhi to 'empower' underprivileged children

By Our Representative A voluntary organisation linked with Nobel laureate Kailash Satyarthi-supported NGO has floated a unique children’s resource centre at Sanjay Camp, Chankyapuri, New Delhi, in order to facilitate in imparting remedial education, recreational training and holistic development of children of around 2,500 under-privileged slum-dwelling families. Virender Singh Kadian, MLA of Delhi Cantonment, inaugurated the centre, which is called Shaheed Kalu Bal Vikas Kendra. The resource centre is in memory of Kalu Kumar, who died at an young age serving and working towards the development of under-privileged children, said an NGO source. A firebrand activist, Kalu Kumar was trafficked from Bihar to the carpet manufacturing belt of Allahabad when he was six. He was rescued by the Bachpan Bachao Andolan at the age of 10. A bright student, Kalu he covered up the lost ground very quickly and grew up to become a leader fighting for the rights of other child slaves at Bal Ashram. In

Golwalkar's views on tricolour, martyrs, minorities, caste as per RSS archives

By Shamsul Islam* First time in the history of independent India, the in-charge minister of the Cultural Ministry in the current Modi government, Prahlad Singh Patel, has glorified MS Golwalkar, second supremo of the RSS and the most prominent ideologue of the RSS till date, on his birth anniversary, February 19. In a tweet he wrote : “Remembering a great thinker, scholar, and remarkable leader #MSGolwalkar on his birth anniversary. His thoughts will remain a source of inspiration & continue to guide generations.”

Multi-crore NRC updation scam? Awaited: Assam media's self-cleaning mechanism

By Nava Thakuria If some editor-journalists are allegedly involved in a financial scam, shouldn't the people get an opportunity to identify them? As the mainstream newspapers and news channels of Assam are avoiding the issue in their coverage, how come the actual picture will come to the public domain? If the mainstream media outlets intentionally kill the news, reasons best known to the editors, should the social media users take a lead? By now a number of senior journalists (with experience in print journalism for many decades) have highlighted the issue in social media. Their message is loud and clear- identify the corrupt television journalists who grabbed a huge amount of money which is actually meant for thousands of Assamese professionals. It all began when a second first information report (FIR) was filed by the outgoing State coordinator of National Register of Citizens (NRC) against his predecessor alleging corruption and money laundering while updating the 1951 NRC in A

RSS, Sangh Parivar consider tricolour as "state flag" and not "national flag"

By Teesta Setalvad* Today, when the nation has been independent for 67 years, the Sangh Parivar is set to launch ‘Tiranga yatras’ and Satyagrahas to defend the honour of the flag and the nation. Yet when the Indian people were involved in the decades-long struggle for freedom against British imperialism, the RSS was conspicuous by its absence in the struggle. When thousands of people faced lathis, bullets and jail sentences for hoisting the tiranga and participated all over the country in satyagraha during the Civil Disobedience and Quit India movements against the British Raj, the Sangh publicly took the stand that it would not take part in the movement and seldom missed the opportunity of assuring the British rulers that they would keep to the right side of colonial law and avoid any clash with the authorities. Of course the reason given for this was that the Sangh was secretly strengthening itself and would take on British imperialism only when it was strong enough to do so! A simil

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".

'Grossly inadequate': NREGA allocation 0.29% of GDP, World Bank recommended 1.6%

By Rajiv Shah A civil society tracker, seeking to periodically analyse the implementation of the Mahatma Gandhi Rural Employment Guarantee Act (NREGA), has said that NREGA budgetary allocation is only 0.29% of GDP and 1.85% of the total government expenditure of the financial year 2022-23, which is grossly inadequate. Thus, “As per estimates of researchers of the World Bank, for NREGA to run robustly, its allocation must at least be 1.6% of the GDP.” Prepared by the People’s Action for Employment Guarantee (PAEG), a group of activists, academics and members of people’s organizations, who came together to advocate for NREGA in 2004 in order to catalyse discussion and strengthen the top Government of India rural jobs guarantee scheme, the tracker states, the NREGA budget as percentage of the total government expenditure has also decreased -- it stands at 1.85% for FY 2022-23, just about half the level in FY 2020-21 (3.65%). The tracker, titled “Meagre Funds and Unlawfully Low Wages: How

Since 2015 Govt of India didn't allocate single rupee to Gujarat for RTI training, awareness

By Pankti Jog* The Department of Personnel and Training, Government of India (GoI) has allocated Rs 8.7 crore to Maharashtra for conducting Right to Information (RTI) training and awareness between 2015 to 2022. Of this, Rs 5.9 crore has gone to the Maharashtra State Training Institute, YASHADA, and Rs 3.01 crore have gone to the State Information Commission, Maharashtra. Gujarat, on the other hand, has not received even a single rupee over the last seven years for RTI programmes. Even Gujarat’s State Information Commission too has not not received any funds since 2005. RTI is one of the effective tools to bring transparency and accountability in the administration, thus improve governance. If citizens are aware, they would participate in a more meaningful manner in governance. They would effectively monitor planning and expenses of public programmes. Indeed, it is necessary that RTI is taken to every citizen, for which the government needs to conduct awareness drives and training

Counterview

Search This Blog