India’s score fell to 0.49 from 0.44 in 2018, according to the Human Capital Index report released by the World Bank on Wednesday.
India ranked 116th in the latest edition of the World Bank’s annual human capital index, which compares the main components of human capital between countries.
- However, India’s score fell to 0.49 from 0.44 in 2018, according to the Human Capital Index report released by the World Bank on Wednesday.
- The 2020 Human Capital Index update includes health and education data for 174 countries, covering 98% of the world’s population, as of March 2020, providing a pre-pandemic baseline on health and education of children, the most important being progress in income countries.
- Analysis shows that before the pandemic, most countries had made steady progress in building children’s human capital, with the greatest progress being made in low-income countries.
- Despite this progress, and even before the effects of the pandemic, a child born in a typical country could only hope to achieve 56% of their potential human capital, compared to a full level of education and health, the bank said.
- Protecting and investing in people is essential as countries strive to lay the foundations for sustainable and inclusive recovery and future growth.
- Due to the impact of the pandemic, the majority of children (over 1 billion children) have not attended school and could miss, on average, half a year of education adjusted for the learning, which would lead to considerable economic losses.
- Data also shows significant disruptions in essential health services for women and children, and many children lack access to essential vaccines.
- Last year India expressed “serious reservations” about the Human Capital Index, with India ranking 115th out of 157 countries. This year, India is ranked 116th out of 174 countries.
- Asked about India’s objections last year, Roberta Gatti, the bank’s chief human development economist, told reporters her team had worked with countries to improve data quality – a better lead for all .
- Responding to questions, Mamta Murthi, vice president of human development at the World Bank Group, told reporters that the Human Capital Index provides a basis on which the Indian government can set priorities and a dimension to support the human capital.
- Given the progress that has been made in recent times, this seems important at the moment due to COVID-19. The Bank is working with the Indian authorities to support the livelihoods of the poor, which is very important, he said.
- World Bank President David Malpass said the coronavirus has worsened inequalities around the world, in addition to increasing poverty and distress.
- “We are working with countries to try to protect people during the crisis and invest in them so that we can see the recovery and lay the foundations for future inclusive growth,” he said.
- The impact of COVID-19, especially in developing countries, has been severe, Malpass said, adding that there had been a formal and informal market collapse, and there was also a safety net very limited social, he said, estimates a 12% drop in employment.
- There has been a significant drop in remittances and total income is down 11 or 12 percent. All of this, he said, is likely to have a disproportionate effect on the poor and on women. India, he said, is having a “serious impact” from COVID-19.
- Malpass said there was a double inequality in this crisis. “The first is that developing countries lag further behind. And in developing countries, the poor lag further behind.
- Countries increasingly report a decline in essential health services. Eighty million children do not receive essential vaccines. Most of the children, out of more than 1 billion children, have not been to school due to COVID. And that could lose up to $ 10 trillion in lifetime earnings due to reduced learning, school closings and the potential for dropouts and the disproportionate impact on girls.
- Malpass said the World Bank was trying to work to boost the learning process, which includes helping countries ensure access to equipment, helping to reopen and offer distance education.