India ranks 116th in the latest edition of the World Bank's annual Human Capital Index. This index evaluates the key components of human capital in countries. According to the Human Capital Index report released by the World Bank, India's score has increased from 0.44 in 2018 to 0.49 in 2020. The Human Capital Index 2020 included health and education data from 174 countries. These figures are up to March 2020, after which the outbreak of coronavirus pandemic around the world increased rapidly.
The analysis shows that before the pandemic, most countries made steady progress in the creation of human capital, especially in low-income countries. However, despite this progress, a child can expect to achieve only 56 percent of their potential human development potential relative to education and health standards in an average country. World Bank group president David Malpass said, "The decade's progress in building human capital has been put at risk by the pandemic, including health, life expectancy, school enrollment and a reduction in malnutrition." The pandemic's economic outbreak has been very high, especially for women and the most deprived families, with many families suffering from food insecurity and poverty.
According to the report, it is essential to protect and invest in the people as countries are laying the foundations for sustainable and inclusive growth. Last year, India raised serious questions about the human capital index, in which India was ranked 115 in 157 countries. On asking about India's objections last year, The World Bank's chief economist for human development, Roberta Gatti, said that her team has worked with countries to improve the quality of data so that it can become a better index for all. She said that work has been done directly with some countries to improve the index, and India is one of them.
Mamta Murthi, vice president of human development at the World Bank Group, said that the human capital index gives a basis through which India's Government can give priority and support to human capital.
If you liked this story, you must share it. Stay connected to read other similar News and articles from Paisabulls.
Read also: Google removed the Paytm app from Play Store illegal activities: Is your money safe?
What is the FD account? What are the benefits and how to open it
SBI changing ATM withdrawal rules from 18th September: Know what they are?
Image credit: sinceindependence