Top 10 Indian States for Economic Freedom
Bangalore: India as a country has always made conscious effort towards its economic freedom and growth. Over the years India’s economic freedom rating has changed for better, but it still is poorly ranked on the global platform, its takes 111th position among 144 countries. The Economic Freedom Rankings for the States of India, 2012 conducted by the Cato Institute has rated the Indian states as per their ‘Overall Economic Freedom Ratings 2011’. Here are the top 10 states ranked on the basis of the size of the government, the legal structure and security of the property and also the labour and business regulations of each state.
Gujarat with its agricultural enhancement, better water resources, improved social welfare programs and efficient legal and regulatory workforce has moved to the top of the position in 2011 from its fifth place in 2005. Its overall economic freedom rating ratio has changed from 0.46 to 0.64 by 2011.The results are achieved without any unnecessary addition in the government size.
Tamil Nadu is on the second place with 0.57 economic freedom ratio, it has shown a slight decrease from 0.59 in 2009 when it was on the number one position. Tamil Nadu has shown an improvement in investments proposed by the government. Also the yearly labour wages has been enhanced compared to the minimum notified wage, but still the state shows a decline in the Economic Rating.
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