According to a presentation prepared in 2020, by the then Principal Economic Advisor in the Ministry of Finance, Sanjeev Sanyal, inputs that go into the making of the World Bank’s World Governance Indicators (WGI) is arbitrary.
The Worldwide Governance Indicators (WGI) project reports governance indicators for over 200 countries for the following six dimensions of governance:
- Voice and Accountability
- Political Stability and Absence of Violence/Terrorism
- Government Effectiveness
- Regulatory Quality
- Rule of Law
- Control of Corruption
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These aggregate indicators are based on over 30 individual data sources produced by a variety of survey institutes, think tanks, non-governmental organizations (NGOs), international organizations, and private sector firms such as Economist Intelligence Unit (EIU), Varieties of Democracy (V-Dem) Project and Freedom House, etc.
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