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Index of Economic Freedom 2018-India Ranked 130th
Index of Economic Freedom 2018-India Ranked 130th-Details, About IEF
India was ranked 130th out of 180 economies in recently released Index of Economic Freedom-2018 edition report.
The Index of Economic Freedom-2018 (IEF) measures the degree of economic freedom in the countries of the world.
In IEF-2018 edition report, India with a score of 54.5 points had leaped 13 places from the 143rd rank in the previous year (2017) with a score of 52.6 points.
Index of Economic Freedom (IEF)
The IEF report was released by top American based public-policy think tank, the Heritage Foundation in Washington (US). It ranks countries based on a score ranging from 0 (least free) to 100 (most free).
The IEF report score depends on 12 factors of economic freedom, separated into four categories, using statistics from international organizations like World Bank, IMF, Economist Intelligence Unit and Transparency International.
In IEF report, based on the aggregate scores, countries are grouped in 5 different categories, Free (80–100), Mostly Free (70.0–79.9), Moderately Free (60.0–69.9), Mostly Unfree (50.0–59.9) and Repressed (0–49.9).
The IEF report's twelve factors for calculating score includes Property Rights, Government Integrity, Tax Burden, Judicial Effectiveness, Government Spending, Fiscal Health, Business Freedom, Monetary Freedom, Labor Freedom, Trade Freedom, Investment Freedom and Financial Freedom.
The world economy overall is rated moderately free and world average has now risen 3.5 points, from 57.6 to 61.1 since the first edition of the IEF report was released in 1995.
