After being ranked 115 out of the total 157 countries, the Government of India has rejected the report on Human Capital Index (HCI) released by the World Bank. The report has placed India below other neighbouring countries like Sri Lanka, Bangladesh, Nepal, and Myanmar. The government criticised the report stating that it does not reflect the government’s initiatives for developing human capital.
The World Bank has given an HCI rating of 0.44 for India on a scale of 0 to 1. This rating is based on various parameters like health, education, child mortality, etc. The Finance Ministry of India questioned the validity of the index stating that there are methodological weaknesses and substantial data gaps in the rating.
Among the various countries evaluated in the report, Singapore came on top with a score of 0.88. This is followed by South Korea and Japan in the second and third positions, respectively. Singapore has received a lot of appreciation for its universal healthcare system. The country has also scored high in its education exam results and life expectancy figures.
The Finance Ministry has cited various initiatives taken by the government for developing human capital. It noted that the Ayushman Bharat scheme launched by the ruling government is the world’s largest health insurance initiative. It also cited various other programs like Pradhan Mantri Jan Dhan Yojana, Swachh Bharat Mission, Pradhan Mantri Ujjwala Yojana, etc., in developing the human capital in India.
The government noted that these initiatives have touched the lives of millions of people living in India and helped the country transform its human capital. The government also noted that the unique identification system of Aadhar has enabled direct transfer of social benefits to citizens in the country.
The statement by the Finance Ministry noted that the government has decided to ignore the HCI report by the World Bank. The statement also noted that the government will continue to undertake its path-breaking initiatives aimed at developing human capital.
Source: Indian Express