21:15
Ondrej Androje
India’s economic freedom score is 54.6, making its economy the 123rd freest in the 2012 Index. Its score is unchanged from last year, with an improvement in labor freedom offset by declining scores in five other areas including business freedom, freedom from corruption, government spending, and monetary freedom. India is ranked 25th out of 41 countries in the Asia–Pacific region, and its overall score is below the world average.
Despite India’s high economic growth, the foundations for long-term economic development remain fragile in the absence of an efficiently functioning legal framework. Corruption, endemic throughout the economy, is becoming even more serious. The state maintains an extensive presence in many sectors through state-owned enterprises, and the legacy of decades of failed socialist policies includes a substantial tolerance for government meddling in economic activity.
QUICK FACTS of India Economy 2011 - 2012
- Population:1.2 billion
- GDP (PPP):
- $4.1 trillion
- 10.4% growth
- 8.6% 5-year compound annual growth
- $3,339 per capita
- Unemployment: 10.8%
- Inflation (CPI): 13.2%
- FDI Inflow: $24.6 billion
world rank country overall score change from previous
- Hong Kong 89.9 0.2
- Singapore 87.5 0.3
- Australia 83.1 0.6
- New Zealand 82.1 -0.2
- Switzerland 81.1 -0.8
- Canada 79.9 -0.9
- Chile 78.3 0.9
- Mauritius 77.0 0.8
- Ireland 76.9 -1.8
- United States 76.3 -1.5
Posted in: economic, economic development, facts of India ecnomy, FDI, freedom, GDP, hong kong, india, inflation, inflow, population, PPP, Unemplyment, world rank
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