India ranks 100th in Legatum Prosperity Index 2017
India was ranked 100th among 149 countries on the list of prosperous countries released as part of The Legatum Prosperity Index 2017. The index offers an insight into how prosperity is forming and changing across the world.
Legatum Prosperity Index
Legatum Prosperity Index is an annual ranking developed by the London-based Legatum Institute. It is world’s leading global measure of economic and social wellbeing that studies 104 indicators under these categories: Economic Quality, Governance, Business Environment, Personal Freedom, Safety and Security, Social Capital, Education, Health and Natural Environment.
Highlights of 2017 Legatum Prosperity Index
The Asia-Pacific region, which includes China and India, has registered greatest improvement in business environment and worst performance towards natural environment.
The gap between China and India’s prosperity has narrowed by four ranks since 2016 and to quarter of what it was in 2012. China has lost out economically as people perceived greater barriers to trade and less encouragement of competition; and educationally through a falling primary school completion rate.
The rising trend in India’s prosperity is significant in view of fact that India registered lower economic growth following demonetisation and implementation of goods and services tax (GST) reform in 2017.
India’s performance on each front: Economic Quality- 56th rank, Business Environment- 65th, Governance- 41st, Education- 99th, Health- 109th, Safety & Security- 134th, Personal Freedom- 100th, Social Capital- 82nd and Natural Environment- 139th.
Categories: Business & Economy Current Affairs 2018