India
rises on economic freedom index
IANS[ FRIDAY, SEPTEMBER 08, 2006 09:40:16 AM]
NEW DELHI: India, seen as one of the fastest developing economies,
has also improved its ranking on a global economic freedom
index, surging ahead of several nations including China.
India's ranking has improved from 65 to 53, according to
'The Economic Freedom of The World: Annual Report 2006', published
Thursday by the Canada-based Fraser Institute.
The index measures the performance of countries on the freedom
it allows on various parameters like the size of government,
access to money, freedom to trade globally, labour and credit
market regulation.
The latest report, which uses 2004 data and takes 1970 as
base, rates Hong Kong and Singapore once again at the top
position.
The report, which was formally released here by Sanjaya Baru,
media advisor to the prime minister of India, states: "India
and China continues to attract a lot of attention as both
have implemented market-oriented reforms and have reported
a rapid economic growth."
In the 130-nation index, New Zealand, Switzerland and the
US together occupy the third place while India's 53rd rank
is shared with Malaysia, Poland, South Africa, Trinidad and
Tobago, Georgia and Armenia.
China's ranking at 95 is shared by a number of developing
countries including Bangladesh and Pakistan.
"The reforms in India have been deeper than those in
China where formal economic liberalisation has been restricted
to just a few zones," the report states.
|
