Economic freedom: Top 20 nations, India falls to 111!
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India scores a dismal 111th rank in terms of economic freedom, behind countries like China, Nepal and Bangladesh, according to a global study of 144 nations.
India's ranking has fallen from 103rd position last year. The annual ranking, titled 'Economic Freedom of the World: 2012', by Canada-based public policy think-tank, Fraser Institute, in cooperation with independent institutes in 90 nations and territories, and claims to measure the degree to which the policies and institutions of countries support economic freedom.
The index published in Economic Freedom of the World measures the degree to which the policies and institutions of countries are supportive of economic freedom.
The cornerstones of economic freedom are personal choice, voluntary exchange, freedom to compete, and security of privately owned property.
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Image: A man stands in front of closed shops during a nationwide strike in Kolkata.
Photographs: Rupak De Chowdhuri/Reuters.
Economic freedom: Top 20 nations, India falls to 111!
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Hong Kong retains the highest rating for economic freedom.
Hong Kong (Rank 1)
Score: 8.90
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Photographs: Rupak De Chowdhuri/Reuters.
Economic freedom: Top 20 nations, India falls to 111!
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Singapore (Rank 2)
Score: 8.69
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Image: Foreign visitors walk down the stairs on the waterfront facing Hong Kong's financial Central district.
Photographs: Bobby Yip/Reuters.
Economic freedom: Top 20 nations, India falls to 111!
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New Zealand (Rank 3)
Score: 8.36
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Image: People look at exchange rates displayed at the NZ Stock Exchange in Wellington.
Photographs: Anthony Phelps/Reuters.
Economic freedom: Top 20 nations, India falls to 111!
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Switzerland (Rank 4)
Score: 8.24
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Image: A general view shows the headquarters of Swiss Migros group in front of the city of Zurich and the eastern Swiss Alps.
Photographs: Arnd Wiegmann/Reuters.
Economic freedom: Top 20 nations, India falls to 111!
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Australia (Rank 5)
Score: 7.97
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Image: Surfers wait for waves as dolphins leap in the waters of Bondi Beach in Sydney.
Photographs: Daniel Munoz/Reuters.
Economic freedom: Top 20 nations, India falls to 111!
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Canada (Rank 6)
Score: 7.97
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Image: Distillery District, Toronto, Canada.
Photographs: Mathew Ingram/Wikimedia Commons.
Economic freedom: Top 20 nations, India falls to 111!
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Bahrain (Rank 7)
Score: 7.94
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Photographs: Navin Shetty Brahmavar/Wikimedia Commons.
Economic freedom: Top 20 nations, India falls to 111!
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Mauritius (Rank 8)
Score: 7.90
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Image: Port Louis, Mauritius.
Photographs: Peter Kuchar/Wikimedia Commons.
Economic freedom: Top 20 nations, India falls to 111!
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Finland (Rank 9)
Score: 7.88
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Image: Finland.
Photographs: Finland/Wikimedia Commons.
Economic freedom: Top 20 nations, India falls to 111!
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Chile (Rank 10)
Score: 7.84
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Photographs: Eliseo Fernandez/Reuters.
Economic freedom: Top 20 nations, India falls to 111!
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UAE (Rank 11)
Score: 7.83
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Image: View from the observation deck of Burj Dubai Tower.
Photographs: Ahmed Jadallah/Reuters.
Economic freedom: Top 20 nations, India falls to 111!
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Ireland (Rank 12)
Score: 7.75
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Image: Tram service in south Dublin, Ireland.
Photographs: Reuters.
Economic freedom: Top 20 nations, India falls to 111!
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United Kingdom (Rank 12)
Score: 7.75
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Image: Spectators picnic between a pair of double decker buses during Ladies Day at the Epsom Derby festival in Epsom, southwest of London.
Photographs: Chris Helgren/Reuters.
Economic freedom: Top 20 nations, India falls to 111!
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Estonia (Rank 14)
Score: 7.74
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Image: Estonia.
Economic freedom: Top 20 nations, India falls to 111!
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Taiwan (Rank 15)
Score: 7.72
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Image: A man holding balloons stands next to a ship leaving to Keelung in Taiwan during a ceremony of the first direct sea transport across the strait, at Tianjin Port.
Photographs: Reuters.
Economic freedom: Top 20 nations, India falls to 111!
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Denmark (Rank 16)
Score: 7.71
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Image: Copenhagen, Denmark.
Photographs: Courtesy, Wikipedia Commons.
Economic freedom: Top 20 nations, India falls to 111!
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Qatar(Rank 17)
Score: 7.70
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Image: A view of Doha, Qatar.
Photographs: Fadi Al-Assaad/Reuters.
Economic freedom: Top 20 nations, India falls to 111!
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United States (Rank 18)
Score: 7.69
The United States, long considered a champion of economic freedom among large industrial nations, dropped to its lowest position ever in to the Fraser Institute's annual Economic Freedom of the World report.
Much of this decline is a result of high spending on the part of the US government.
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Image: New York City, United States.
Photographs: Courtesy, Wikipedia Commons.
Economic freedom: Top 20 nations, India falls to 111!
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Kuwait (Rank 19)
Score: 7.66
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Image: Liberation Tower (Kuwait).
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