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Mumbai, Feb 18: India is placed at 25 in terms of development, just behind Singapore, Brazil and South Africa, says The Transformation Index, a study of market economics and democracy in 125 transformation states by published on Monday in Berlin by the independent German Bertelsmann Foundation. India is also ranked 19 in an evaluation of the management performance of its political decision-makers, with an improvement of 13 rankings on the previous comparative investigation conducted 2 years ago.
The appraisal primarily lauds India's efforts to achieve peaceful integration of ethnic minorities and cooperation with its regional partners, particularly Pakistan. However, a cumbersome justice system and inadequate protection of civil rights in conflict-marred regions continue to be areas of concern.
It is recommended that India continue to pursue economic reforms rigorously to sustain its growth rate of 8%. That the country has one of the most dynamic national economies in the world is beyond doubt, but deficiencies in reforms have threatened to block this development. The most pressing requirements are the curtailing of unproductive subventions and a reduction in the existing household deficit. A need for reform is also important in the adaptation of legal controls governing occupational safety, property ownership and bankruptcy to bring them in step with international standards. The modernisation and expansion of a still underdeveloped infrastructure also demands considerable efforts.
Josef Janning of the Bertelsmann Foundation says, “Plans of the Indian government to shape the country to become a developed economy and a key player in international politics are now bearing fruit. India should also exploit this favourable situation to to tackle its greatest problem: the continuingly pronounced inequalities in society, particularly in terms of education, health, social security and earnings. The creation of a greater equilibrium among the regions and enabling as many people as possible to share economic success should be central objectives of the future policy.”
The evaluation of India in the appraisal is embedded in the analysis of the overall development in Asia. This has seen national economies in the northern Asian landscape achieving the fastest growth rates in recent decades.
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