India ranks Ninth in Crony-Capitalism Index

India is ranked at ninth position in crony-capitalism index that was released by the Economist in the first week of May 2016. 
•    As per the latest crony-capitalism index the non-crony sector wealth in India amounts to 8.3 per cent of the GDP
•    Russia topped the list 
•    It was followed by Malaysia, the Philippines and Singapore.
•    Russia fares worst in the index, wealth from the country's crony sectors amounts to 18 per cent of its GDP.
•    It was based on the work by Ruchir Sharma of Morgan Stanley Investment Management, Aditi Gandhi and Michael Walton of Centre for Policy Research of New Delhi, and others in 2014.
•    Due to its limitations the index was not recognized internationally.
•    It also aims to measure the increase trend in the number of economic rent-seekers.