India ranked world's 128th freest economy

Washington, Jan 28: With an economic freedom score of 54.6 out of 100, India has been ranked 128th freest economy in the 2015 Index of Economic Freedom evaluating economic conditions and government policies in 186 countries. The annual report by The Heritage Foundation, a conservative Washington think tank, in collaboration with The Wall Street Journal, ranks India 26th out of 41 countries in the Asia-Pacific region. India's total score is down by 1.1 points from last year, with modest improvements in business freedom, property rights, and freedom from corruption offset by declines in labor freedom and trade freedom. But its overall score continues to be below the regional and world averages, the Index notes suggesting India remains a "mostly unfree" economy. India's level of economic freedom is unchanged over five years, the report notes. The state's presence in the economy remains extensive through state-owned enterprises and wasteful subsidy programs that cause chronically high budget deficits.