Wednesday December 19, 2018
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India ranks dismal 100 on global Human Capital Index

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By NewsGram Staff Writer

India ranks a dismal 100 on a global Human Capital Index which measures the countries in terms of the economies leveraging their human capital, according to World Economic Forum (WEF).

While India has been positioned almost at the bottom of the list, Finland has been given the top position, followed by Norway, Switzerland, Canada, Japan, Sweden, Denmark, Netherlands, New Zealand and Belgium. According to the report, even other developing countries like Russia (26th), China (64th), Brazil (78th) and South Africa (92nd) are placed above India.

The countries with a better rank than India also include Kazakhstan, Armenia, Kyrgyz Republic, Chile, Philippines, Serbia, Mongolia, UAE, Macedonia, Sri Lanka, Azerbaijan, Tajikistan, Mauritius, Barbados, Brazil, Guatemala, Bhutan, Honduras, Cambodia, Tunisia and Bangladesh.

The list has been prepared based on 46 indicators about “how well they are developing and deploying their human capital, focusing on education, skills and employment,” WEF report said.

“It aims to understand whether countries are wasting or leveraging their human potential,” it added.

The report said that it was observed through the list that 14 countries have achieved 80% human capital optimization, while 38 countries score between 70 to 80%. Moreover, 40 countries score between 60 to 70%, 20 countries between 50 to 60% and 9 countries reside below 50%.

In the most populous regions like Asia and the Pacific, there’s a huge disparity between the highest and lowest performing countries.

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Madhya Pradesh Waives off $5.3Bn in Farm Debt

The western state of Maharashtra and northern state of Uttar Pradesh, both ruled by the BJP, announced similar loan waivers last year.

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India, farmers, farm
Farmers march towards the parliament house during a rally to protest soaring farm operating costs and plunging prices of their produce, in New Delhi, India. VOA

The new leader of the Indian state of Madhya Pradesh is to waive up to $5.3 billion of farm loans, becoming the latest area to offer relief ahead of a national election next year as farmers reel from losses caused by falling crop prices.

Prime Minister Narendra Modi’s Hindu nationalist Bharatiya Janata Party lost the central state to Congress last week dealing Modi his biggest defeat since he took office in 2014 and boosting the opposition ahead of the vote next year.

Congress leader Kamal Nath, who became chief minister of the state on Monday, decided to write off farmers’ loans up to 200,000 rupees, according to a notification.

farmers, Bank
Police try to stop farmers during a protest demanding a better price for their produce on the outskirts of New Delhi, India. VOA

Protests on the rise

Farmers’ protests have been rising in past months due to the fall in crop prices and a rise in the cost of diesel and fertilizer.

Nearly 3.4 million farmers will benefit from the loan waiver, which is likely to cost between 350 billion rupees ($4.9 billion) to 380 billion rupees ($5.3 billion), Rajesh Rajora, the state’s principal secretary for agriculture, told Reuters.

Also Read: Arvind Kejriwal Accuses Modi Government of Betraying Farmers

The western state of Maharashtra and northern state of Uttar Pradesh, both ruled by the BJP, announced similar loan waivers last year. (VOA)