Question: What is the rank of India in recently launched ‘Economic Freedom of the World, 2019’ report released by Indian think tank ‘Centre for Civil Society’ (CCS) in cooperation with Canada’s Fraser Institute?
- On 12th September 2019, Economic Freedom of the World, 2019 annual report was released by the Indian think tank ‘Centre for Civil Society’ (CCS) in cooperation with Canada’s Fraser Institute.
- Under this report, 162 countries have been ranked for year 2017, the most recent year for which comprehensive data are available.
- The index published in Economic Freedom of the World measures the degree to which the policies and institutions of countries are supportive of economic freedom.
- This index is prepared on the basis of data collected in five broad areas; the size of government, legal system and property rights, sound money, and freedom to trade internationally and regulation of credit labour & business.
- Top five performers are Hong Kong, Singapore, New Zealand, Switzerland and United States respectively.
- The 10 lowest-rated countries are: Iraq, Republic of Congo, Egypt, Syria, Democratic Republic of Congo, Angola, Algeria, Sudan, Libya, and, lastly, Venezuela.
- India is ranked 79 in this index with 6.91 points.
- Among the neighboring countries of India, China is ranked 113th, Bhutan at 87th, Sri Lanka at 104th, Nepal at 110th, Bangladesh at 123rd and Pakistan at 136th.