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India ranked world’s 128th freest economy

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Washington: 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.

“In the absence of a well-functioning legal and regulatory framework, a weak rule of law exacerbated by corruption in many areas of economic activity undermines the emergence of a more vibrant private sector,” it said.

The reform-minded administration of Prime Minister Narendra Modi, the Index notes “has undertaken some necessary structural adjustments with a focus on reforming the inefficient and bloated government sector, better managing public finance, and improving the business and investment environments.”

The first budget presented in July 2014, however, was short on detail about plans to restructure wasteful subsidy programs and reignite economic growth, it said.

Corruption, poor infrastructure, and fiscal deficits are major obstacles to economic growth, the report said.

India is a significant force in world trade, but its economy continues to operate far below its potential.

In a poll, 96 percent of Indians said chronic corruption was holding back their country. Corruption has had a negative effect on government efficiency and economic performance.

According to the Index, the US continues to be only the 12th-freest economy, seemingly stuck in the ranks of the “mostly free,” trailing such comparable economies as Australia, New Zealand and Switzerland.

The global average economic freedom score has advanced to its highest level ever of 60.4 (on a 0-to-100 scale) in the 2015 Index.

Although Hong Kong has maintained its status as the world’s freest economy, a distinction that it has achieved for 21 consecutive years, the gap between that territory and Singapore, the second-freest economy, has further vanished, it noted.

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Apple is giving a huge discount on its gadgets: Details inside

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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