THE RANK of India is 111 out of 144 countries as included in the Economic Freedom of the World: 2012 Annual Report, released recently by the Centre for Civil Society. Last year too, India ranked 103. India’s overall rating is 6.26, behind China, Bangladesh, Tanzania and Nepal. Globally, the average economic freedom score rose slightly to 6.83 in 2010, the most recent year available, after plummeting to its lowest level in nearly three decades with a score of 6.79 in 2009, reported Zee News.
Economic Freedom of the World studies how the policies and institutions of countries enable economic freedom. Its annual report is published along with the Economic Freedom Network, which is a group of independent research and educational institutes in 90 nations. This year’s publication analyzes 144 nations i.e. 95 per cent of the world’s population for 2010 for which data is available.
Hong Kong has again featured at the top out of 144 countries, and is followed by Singapore, New Zealand, and Switzerland - with Australia and Canada being tied for fifth spot.
Venezuela has the least economic freedom among the 144 nations, while Myanmar, Zimbabwe, Republic of Congo, and Angola are the bottom five nations.
Research indicates that people living in countries with more economic freedom have more prosperity, increased level of political and civil liberty, and life expectancy.
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