The World Bank has given India 116th rank in the Human Capital Index among 174 countries. However, India’s score has increased as compared to 2018. According to the World Bank’s Human Capital Index, India’s score is 0.49 whereas it was 0.44 in 2018.
Earlier in 2019, in the report, India was ranked 115 out of 157 countries. However, the Central Government also raised the question on World Bank’s Human Capital Index. The central government said that the World Bank has ignored the policies adopted to help the poor in the nation.
Rankings based on The World Bank has taken education and health data of 174 countries in the 2020 Human Capital Index. These 174 countries make up 98% of the world’s total population. Before Corona, this Human Capital Index up to March 2020, has placed importance on education and health facilities given to children. As per the Human Capital Index, most countries have made steady progress, while low-income countries have made a big jump.
Roberta Gati, Chief Economist, Human Development, World Bank, told reporters that her team has worked with countries to improve its quality to make it a good index for all.
Gati further added that this is an index conversion opener that they have discussed with their client countries. They have worked directly with some of their client countries so that the index can be used to improve measurement and India is one of those countries.
Corona Increased Poverty And Distress
The Government of India can consider the needs of proportion to help Human Capital. He stated that the World Bank is helping the livelihood of poor people along with India’s authorities which is more significant.
Meanwhile, David Malpas, World Bank President added that Coronavirus has increased such inhumanity around the globe. As a result, there has been an increase in distress and poverty.
Employment Decreased By About 12%: World Bank
David Malpas said they are working with countries to protect people in this epidemic. He said that coronavirus has a greater impact on developing countries, due to which the formal and informal market has been destroyed. According to the World Bank, there has been a decrease of about 12% in employment during this period.