4024
Published on March 13, 2021
Bangladesh is the only country in South Asia that has seen an improvement in the Heritage Foundation's 2021 Index of Economic Freedom.
The country has been placed at the second most economically free nation in the region, only behind Bhutan.
Bangladesh's score has increased in government integrity, tax burden, business freedom, and labour freedom.
The increase is mainly contributed by a significant improvement in the tax burden score, which has been seen as a positive impact on the overall economic freedom of a nation.
According to the Heritage Foundation, the tax burden includes both the direct tax burden in terms of the top tax rates on individual and corporate incomes, and the overall amount of tax revenue as a percentage of GDP (gross domestic product).
Bangladesh has made slow but steady progress towards a greater economic freedom over the past decade, the Washington-based think tank said in its release.
India stands third, while Nepal ranked the lowest in the region in the economic freedom index.
Except Bangladesh, all South Asian countries have seen their scores decline this year.
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