India 123rd Economic of Freedom from 179 countries

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

1. Hong Kong                                    89.9                                0.2
2. Singapore                                    87.5                                0.3
3. Australia                                    83.1                                0.6
4. New Zealand                            82.1                                -0.2
5. Switzerland                                    81.1                                -0.8
6. Canada                                    79.9                                -0.9
7. Chile                                    78.3                                 0.9
8. Mauritius                                    77.0                                 0.8
9. Ireland                                    76.9                               -1.8
10. United States                            76.3                               -1.5
    

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