Recently, World Economic Forum released Inclusive Development Index-2018. In this context the following topics are discussed:
- Key points in Inclusive Development Index-2018
- What is Inclusive development index?
- What are the parameters used to calculate inclusive development index
- Rankings of different countries
Key points in Inclusive Development Index-2018
- Name of the Index-Inclusive Development Index
- Released by-World Economic Forum
- Rank of India-62nd Place (among emerging economies)
- Norway remains the world's most inclusive advanced economy
- Lithuania ranked first in the list of emerging economies
What is Inclusive Development Index?
The Inclusive Development Index (IDI) is an annual assessment of 103 countries’ economic performance that measures how countries perform on eleven dimensions of economic progress in addition to GDP.Inclusive Development Index has been used to measure national economic performance as an alternative to GDP
Three Pillars of Inclusive Development Index-2018 are
- Growth and development;
- Inclusion and;
- Intergenerational equity – sustainable stewardship of natural and financial resources.
How the WEF calculates Inclusive Development Index?
The index takes into account the "living standards, environmental sustainability and protection of future generations from further indebtedness",The index also classified all the 103 countries into five sub-categories in terms of the five-year trend of their overall Inclusive Development Growth score. They are
- Receding countries,
- Slowly receding countries,
- Stable countries,
- Slowly advancing countries and
- Advancing countries
Top 10 countries in advanced economies:
| Name of the country | Rank |
|---|---|
| Norway | 1 |
| Iceland | 2 |
| Luxembourg | 3 |
| Switzerland | 4 |
| Denmark | 5 |
| Sweden | 6 |
| Netherlands | 7 |
| Ireland | 8 |
| Australia | 9 |
| Austria | 10 |
Top 10 countries in Emerging economies:
| Name of the country | Rank |
|---|---|
| Lithuania | 1 |
| Hungary | 2 |
| Azerbaijan | 3 |
| Latvia | 4 |
| Poland | 5 |
| Panama | 6 |
| Croatia | 7 |
| Uruguay | 8 |
| Chile | 9 |
| Romania | 10 |
India & BRICS nations:
Among BRICS nations, Russia stands first with 19th rank, remaining countries of BRICS stands at:- Brazil-37th rank
- Russia-19th rank
- India-62nd rank
- China-26
- South Africa-69th
India & G-20 nations:
Questions:
1. Which among the following organisation releases Inclusive Development Index?a. UNESCO
b. WTO
c. WEF
d. IMF
2. Among, BRICS nations Which of the following country occupies top place in Inclusive Development Index?
a. India
b. China
c. Russia
d. South Africa
3. Which among the following country stands 1st in Inclusive Development index among Advance economies?
a. Norway
b. Sweden
c. USA
d. Uk
4. What is the rank of India in 2018 Inclusive Development Index?
a. 60
b. 62
c. 70
d. 75
