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India ranked 123rd in Economy freedom score

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Economy of India

Washington: India ranked 123rd in 2016 Index of Economic Freedom by conservative US think tank Heritage Foundation on Monday, with an improvement of 1.6 points in its overall score.

Though still rated as “mostly unfree”, India with a score of 56.2 out of 100 was among 32 countries which achieved their highest economic freedom scores ever in the 2016 Index.

India scored its best scores on government spending (78.1), fiscal freedom (77.1), monetary freedom (72.8) and trade freedom (71.0).

But on freedom from corruption India scored 38, while it was rated 40 on financial freedom, 35 on investment freedom and 55 on property rights.

With the exception of India, progress among the other BRICS nations Brazil, Russia, India, China, and South Africa has stalled, according to the index which analyzes economic policy developments related to economic freedom in 186 economies.

Russia plunged 10 places in the rankings to 153rd, with its score deteriorating by 1.5 points. The rankings of South Africa, Brazil, and China declined to 80th, 122nd, and 144th, respectively.

According to the Index which rates countries as “free” (scores above 80), “mostly free” (70-80), “moderately free” (60-70), “mostly unfree” (50-60) and “repressed” (below 50), global economic freedom has advanced for the fourth year in a row.

The US continues to be mired in the ranks of the “mostly free,” the second-tier economic freedom category into which the US dropped in 2010.

Worse, with scores in labour freedom, business freedom, and fiscal freedom notably declining, the economic freedom of the US plunged 0.8 point to 75.4, matching its lowest score ever

As many as 97 countries, the majority of which are less developed, gained greater economic freedom over the past year.

The global average economic freedom score of 60.7 is the highest recorded in the 22-year history of the Index.

Of the 178 economies ranked in the 2016 Index, only five (Hong Kong, Singapore, New Zealand, Switzerland, and Australia) earned the designation of “free” with scores above 80.

Others in the top ten but rated “mostly free” were Canada, Chile, Ireland, Estonia and United Kingdom.

As many as 97 countries, the majority of which are less developed, gained greater economic freedom over the past year.

Declining economic freedom was reported in 74 countries, including 19 advanced economies such as the United States, Japan, and Sweden.(IANS)

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Sony Unveils its New Premium Compact Camera in India

The RX100 VII camera is currently available across all Sony Centers, Alpha Flagship stores, Sony authorised dealers and major electronic stores across India

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Sony
Sony to restructure its mobile division as well.

Sony India on Monday refreshed its premium compact camera — the RX series with the new RX100 VII in India for Rs 96,990.

The flagship point-and-shoot camera uses technologies developed for Sony’s full-frame mirrorless camera Alpha 9, thus, achieving new levels of performance in a compact camera, in both stills and movie shooting.

“The RX100 VII sets new standards for both photography and videography in a compact camera and we are confident that its phenomenal speed and AF capabilities will be very well received by customers,” Hiroyuki Tokuno, Head of Digital Imaging Division, Sony India, said in a statement.

Sony Pictures, North Korean, Computer
Pedestrians walk past an exterior wall of Sony Pictures Studios in Los Angeles, California, Dec. 4, 2014. That year, Sony became the victim of a cyber hack by North Korean operatives from the Lazarus Group. VOA

“Users will feel the reassurance that they have the power of an Alpha 9 in their pocket, in compact form, so they can trust this camera in any given situation,” added Tokuno.

Also Read: Social Media Giant Facebook to Bring New Tools to Protect 2020 US Elections

The RX100 VII camera is currently available across all Sony Centers, Alpha Flagship stores, Sony authorised dealers and major electronic stores across India. (IANS)