Context: Recently, the Economic Freedom of the World: 2020 Annual Report prepared by Canada’s Fraser Institute has been released in India in conjunction with New Delhi-based think tank Centre For Civil Society. 
About the report

• The report measures the economic freedom or the ability of individuals to make their own economic decisions in a country, by analysing policies and institutions of these countries.
• Indicators of the report: Regulation, the freedom to trade internationally, size of government, property rights, government spending and taxation.
• In India, the report was co-published by Delhi-based Centre for Civil Society.
• The report measures economic freedom (levels of personal choice, ability to enter markets, security of privately owned property and rule of law, among others).

Global Highlights of the report

• According to the report, based on 2018 data, Hong Kong and Singapore once again topped the index, continuing their streak as first and second ranked, respectively.
• India has been ranked higher than China, which stands at the 124th position.
• New Zealand, Switzerland, US, Australia, Mauritius, Georgia, Canada and Ireland round out the top-10.
• The 10 lowest-rated countries are African Republic, Democratic Republic of Congo, Zimbabwe, Republic of Congo, Algeria, Iran, Angola, Libya, Sudan and Venezuela.
• Other notable rankings include Japan (20th), Germany (21st), Italy (51st), France (58th), Mexico (68th), Russia (89th) and Brazil (105th).

India Specific Highlights

• In 2018, India ranked 54 in size of government, compared with 11 in 2017.
• This year,  India has been ranked 105 in the index.It was ranked 79th in the previous edition of this report.?
• Its rank dropped to 122 in regulation from 108 during this time, while its rank in freedom to trade internationally also dropped to 137 from 131 previously.
• India marginally improved its position in areas of ‘legal system and property rights’ and ‘sound money’, moving up a rank each to place 79 and 88, respectively.