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2016 Index of Economic Freedom: India scores 56.2, but still rated ‘mostly unfree’

Tue February 02 2016, 4:13 pm
  • With an improvement of 1.6 points in its overall score, India was ranked 123rd in 2016 Index of Economic Freedom released by conservative US think tank Heritage Foundation here Monday. The foundation analyzes economic policy developments related to economic freedom in 186 economies. (AP photo)

  • 1. 2016 Index of Economic Freedom: In 2016 Index of Economic Freedom, India was ranked 123rd after having logged an improvement of 1.6 points in its overall score - the index was released by conservative US think tank Heritage Foundation in Washington on Monday.(Reuters)

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    2. 2016 Index of Economic Freedom: Though still rated as "mostly unfree", India with a score of 56.2 out of 100 was among 32 countries which achieved their highest economic freedom scores ever in the 2016 Index. (Reuters)

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    3. 2016 Index of Economic Freedom: India scored its best scores on government spending (78.1), fiscal freedom (77.1), monetary freedom (72.8) and trade freedom (71.0).

  • Budget 2016: A poll conducted before the 2015 budget also highlighted growth as the top priority, while a slim majority saw the government meeting high hopes for economic reforms.

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    5. 2016 Index of Economic Freedom: With the exception of India, progress among the other BRICS nations - Brazil, Russia, India, China, and South Africa. (Reuters)

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    6. 2016 Index of Economic Freedom: Russia plunged 10 places in the rankings to 153rd, with its score deteriorating by 1.5 points. The rankings of South Africa, Brazil, and China declined to 80th, 122nd, and 144th, respectively.

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    7. 2016 Index of Economic Freedom: The Index rates countries as 'free' that have scores above 80, 'mostly free' if they have scored 70-80, 'moderately free' if tehy get 60-70, 'mostly unfree at 50-60 and 'repressed' if they score below 50. Overall, global economic freedom has advanced for the fourth year in a row. (Reuters)

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    8. 2016 Index of Economic Freedom: The US continues to be mired in the ranks of the 'mostly free', the second-tier economic freedom category into which the US dropped in 2010. Of the 178 economies ranked in the 2016 Index, only five (Hong Kong, Singapore, New Zealand, Switzerland, and Australia) earned the designation of "free" with scores above 80. Others in the top ten but rated "mostly free" were Canada, Chile, Ireland, Estonia and United Kingdom. (Reuters)

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    9. 2016 Index of Economic Freedom: Worse, with scores in labour freedom, business freedom, and fiscal freedom notably declining, the economic freedom of the US plunged 0.8 point to 75.4, matching its lowest score ever. (Reuters)

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    10. 2016 Index of Economic Freedom: As many as 97 countries, the majority of which are less developed, gained greater economic freedom over the past year. The global average economic freedom score of 60.7 is the highest recorded in the 22-year history of the Index. Declining economic freedom was reported in 74 countries, including 19 advanced economies such as the United States, Japan, and Sweden. (Reuters)

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