In­dia wants bet­ter met­ric for Hu­man Cap­i­tal In­dex

Hindustan Times ST (Jaipur) - - Nation - Indo Asian News Ser­vice let­ters@hin­dus­tan­

Soon af­ter In­dia re­jected the find­ings of the World Bank’s Hu­man Cap­i­tal In­dex (HCI), In­dian Eco­nomic Af­fairs sec­re­tary Sub­hash Chan­dra Garg said a bet­ter met­ric was needed for the in­dex to mea­sure the sta­tus of hu­man cap­i­tal in the dig­i­tal age.

“HCI uses met­ric of in­dus­trial era to mea­sure the sta­tus of hu­man cap­i­tal for dig­i­tal age and its pro­duc­tion sys­tem. He (Garg) said that a bet­ter met­ric is needed,” a fi­nance min­istry state­ment on Satur­day quoted Garg, who led the In­dian del­e­ga­tion at the IMF sum­mit at Bali.

Speak­ing at the In­ter­na­tional Mone­tary Fund’s De­vel­op­ment Com­mit­tee Lunch Ses­sion Fri­day, Garg said there is a need to recog­nise that the dig­i­tal tech­no­log­i­cal changes tak­ing place are more fun­da­men­tal than even the in­ven­tion of the steam en­gine, which had laid the foun­da­tion of the in­dus­trial rev­o­lu­tion.

“There is a dig­i­tal rev­o­lu­tion which is trans­form­ing the world... (and) Hu­man Cap­i­tal needs to con­tin­u­ously evolve and de­velop,” he said at the ses­sion on World De­vel­op­ment Re­port, as per the min­istry’s state­ment.

The World Bank’s in­au­gu­ral HCI has placed In­dia at 115 out of 157 coun­tries in terms of the qual­ity of hu­man cap­i­tal based on five pa­ram­e­ters - child sur­vival, school en­roll­ment, qual­ity of learn­ing, healthy growth and adult sur­vival.

In­dia’s HCI score is 0.44, which means a child born in the coun­try to­day will be only 44 per cent as pro­duc­tive “when she grows up as she could be if she en­joyed com­plete ed­u­ca­tion and full health”. This puts In­dia even lower than most of its neigh­bours in South Asia (HCI 0.46).

On Fri­day, In­dia re­jected the find­ings of the in­dex that claims to pre­dict the pro­duc­tiv­ity of the next gen­er­a­tion of work­ers, say­ing it has ma­jor method­olog­i­cal weak­nesses and sub­stan­tial data gaps and hence the coun­try has de­cided to ig­nore the HCI.


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