India slips 26 places to 105 in global economic freedom index

News: The Global Economic Freedom Index 2020 has been released as a part of the Economic Freedom of the World: 2020 report by the Fraser Institute in Canada.In India, the report was co-published by Delhi-based Centre for Civil Society.

Facts:

• About the report: 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. 
• Indicators: It ranks countries by looking at indicators like a) regulation, b) freedom to trade internationally c) size of government d) property rights e) government spending and f) taxation. 
• Coverage: The report uses data from 2018 as the latest year of comparable statistics and analyses policies and institutions of 162 countries and territories.

Key Takeaways:

• Topped by: The index has been topped by Hong Kong followed by Singapore.
• India: India has been ranked 105 in the index.It was ranked 79th in the previous edition of this report.
• China ranked worse than India overall and was positioned at 124 on the index.