Kaushik Basu's study reveals India to stand fifth

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Kaushik Basu's study reveals India to stand fifth
Kaushik Basu chief economic advisor has conducted a study to evaluate the performance of the Indian government. The study uses four-parameter Index of Government Economic Power (IGEP) to rank 100 countries from 2000 to 2009.

The index that has been used for the entire survey is based on government revenues, human capital, its credit-worthiness and credibility in international financial markets i.e., its ability to raise resources from the global markets and finally its influence on global economic activity and its potential in terms of human resources.

The Indian government has stood fifth in the following survey after US, China, Japan and Germany, and it is ahead of France and the UK. The government is seen to have performed quite well in the last decade so considered for the survey.

This standing of the Indian government has come out due to reasons such as the country is able to sustain a growth of 9% and more in the years after the happening of the global financial crisis.

Then India's share in global GDP also increased to 5.4% in 2010 as compared 4.6% in 2000.The countries share in world exports of goods and services has also increased from 0.7% in 2000 to 1.7% in 2010.

The country has also grown in terms of its human capital. Its share in world population has gone up to 17.8% in 2010 as against 16.6% in 2000. Thus India after evaluating all the above mentioned factors of IGEP has gained a fifth position.

Read more about: economy, china, dollar
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