Current Conrext: On 28th October 2024, The Economic Freedom of the World (EFW) 2024 Annual Report, released by the Fraser Institute, evaluates and ranks countries based on their economic freedom.
%20(500%20%C3%97%20280%20px)%20(500%20x%20300%20px)%20(57).png "EFW 2024 Annual Report: Hong Kong Regains Title as World’s Largest Freest Economy")
- The key indicators considered include size of government, legal system and property rights, sound money, freedom to trade internationally, and regulation of credit, labor, and business.
- Key Findings:
- Hong Kong: Regained its title as the world's freest economy with a score of 8.58, overtaking Singapore which scored 8.55. Despite political changes, Hong Kong's strong commitment to economic policies like low taxes, free trade, and minimal government intervention helped it secure the top spot.
- Singapore: Slipped to second place but remains a leader with high scores in most areas of economic freedom.
- India: Ranked 84th, showing improvement by moving up three spots from the previous ranking. India's score of 6.58 reflects progress in areas such as regulation and sound money, though challenges remain in legal system efficiency and labor market regulations.
Question:
1 Where is India ranked in the Economic Freedom of the World (EFW) 2024 Annual Report?
- A) 82nd
- B) 83rd
- C) 84th
- D) 85th
