- After rising up in the Ease of Doing Business Index, India has upgraded its ranks in ‘The Legatum Prosperity Index 2017’ as well. India has managed to come within top 100 prosperous countries for the first time as per the report.
- Out of all the nine indices, India’s ‘Governance’ has been ranked best with 41st rank.
- The index, which offers an insight into how prosperity is forming and changing across the world, ranks India 100th on the list of prosperous countries among 149 countries. Notably, India has climbed 4 positions from 104 to 100 when compared to last year.
- “In the Prosperity Pillar rankings, India performs best on Governance and Economic Quality and scores lowest on the Natural Environment pillar.
- The biggest positive change, compared to last year, came in Business Environment increasing by 21 places,” said the official release.
- However, India is still far behind neighbouring countries like China (52) and Sri Lanka (61), Thailand (48), and Nepal (89). Bangladesh, which ranks 103, follows India closely.
- The list has been topped by Norway, performing exceptionally well on parameters like Business Environment, Economic Quality, Natural Environment, Governance, Social Capital, Education, Personal Freedom, Safety, Security, and Health. Yemen, due to the ongoing civil war bottomed the list. Check out India’s performance on each front:-
Economic Quality- 56th
Business Environment- 65th
Safety & Security- 134th
Personal Freedom- 100th
Social Capital- 82nd
Natural Environment- 139th
- However, safety and security (134th) and natural environment (107th) still remain a huge reason of worry for the government.
- India recorded the second largest increase in the business environment after South Africa that saw the largest jump due to reduced electricity connection costs and an improved Logistics Performance Index.
- The Legatum Prosperity Index is an annual ranking developed by the Legatum Institute, a division of the private investment firm Legatum. The Legatum Institute, the publisher of the index, is a privately funded think-tank founded in 2007 and located in Mayfair, London.