India ranked 111th in economic freedom list

NEW DELHI: India's ranking in economic freedom list dropped at 111th position from last year's 103rd slot in a worldwide index of 144 nations.

 

India, in terms of economic freedom, falls behind countries like China, Nepal and Bangladesh, according to a global study.

 

The annual ranking, titled 'Economic Freedom of the World: 2012', is topped by Hong Kong, followed by Singapore, New Zealand, Switzerland (8.24) and Australia in the top-five.

 

Canada-based public policy think-tank Fraser Institute has prepared the index, in cooperation with independent institutes in 90 nations and territories. The index claims to measure the degree to which the policies and institutions of countries support economic freedom.

 

Canada secured sixth rank on the list, while others in the top-ten comprise Bahrain, Mauritius, Finland and Chile. The countries with lowest level of economic freedom are -- Myanmar, Zimbabwe, Republic of Congo and Angola.

 

Moreover, India shares its 111th position with two other countries, Iran and Pakistan, while those ranked lower include Guyana, Syria and Nigeria.

 

In the economic freedom index, India secured an overall rating of 6.26 as against an average global score of 6.83. China is at 107th position with a score of 6.35, Bangladesh at 109th with a score of 6.34 and Nepal is at 110th position (6.33).

 

As per the report, Hong Kong offers the highest level of economic freedom worldwide, with a score of 8.90 out of 10, followed by Singapore (8.69), New Zealand (8.36), Switzerland (8.24), Australia and Canada (each 7.97), Bahrain (7.94), Mauritius (7.90), Finland (7.88) and Chile (7.84).