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EXPLAINED : GLOBAL ECONOMIC FREEDOM INDEX 2020

EXPLAINED : GLOBAL ECONOMIC FREEDOM INDEX 2020

Context

India ranked 105th on the Global Economic Freedom Index 2020.

Details

  • Economic Freedom of the World: 2020  prepared by Fraser Institute is released in India in association with New Delhi-based think tank Centre For Civil Society.
  • It is the world’s premier measurement of economic freedom, ranking countries based on five areas such as size of government, legal structure and property rights, access to sound money, freedom to trade internationally, regulation of credit, labour and business.
  • India falls 26 spots from 79th position in last year’s rankings.
  • The report measures the ‘economic freedom’, or the ability of individuals to make their own economic decisions in a country, by analysing policies and institutions of these countries.
  • Top 10 countries : New Zealand, Switzerland, US, Australia, Mauritius, Georgia, Canada and Ireland.
  • 10 Lowest Countries : African Republic, Democratic Republic of Congo, Zimbabwe, Republic of Congo, Algeria, Iran, Angola, Libya, Sudan and Venezuela.
  • Other Major countries : Japan (20th), Germany (21st), Italy (51st), France (58th), Mexico (68th), Russia (89th) and Brazil (105th).

About Fraser Institute

  • It is the top think-tank in Canada and now ranks in the top 15 among all think-tanks worldwide.
  • It is an independent non-partisan research and educational organization based in Canada.

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