The World Bank released the Human Capital Index (HCI) as part of the World Development Report 2019. Broader theme of the World Development Report (WDR) this year is “The Changing Nature of Work”. As part of this report, the World Bank has launched a Human Capital Project (HCP). The HCI has been constructed for 157 countries. The HCI for India has been estimated at 0.44. The Index was released at the World Bank-IMF Annual Meetings in Bali, Indonesia.
Singapore topped the poll after it was highly rated for its universal health care system, education exams results and life expectancy figures. It is followed by South Korea, Japan, Hong Kong and Finland. India was ranked at the 115th position lower than Nepal, Sri Lanka, Myanmar and Bangladesh.
The key observations regarding HCI for India in the Report are as follows:
1. Human Capital Index: A child born in India 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.
2. The HCI in India for females is marginally better than that for males.
3. Further, there has been marked improvement in the HCI components in India over the last five years.
4. Probability of Survival to Age 5: 96 out of 100 children born in India survive to age 5.
5. Expected Years of School: In India, a child who starts school at age 4 can expect to complete 10.2 years of school by her 18th birthday.
6. Harmonized Test Scores: Students in India score 355 on a scale where 625 represents advanced attainment and 300 represents minimum attainment.
7. Learning-adjusted Years of School: Factoring in what children actually learn, expected years of school is only 5.8 years.
8. Adult Survival Rate: Across India, 83 per cent of 15-year olds will survive until age 60.
9. Healthy Growth (Not Stunted Rate): 62 out of 100 children are not stunted. 38 out of 100 children are stunted, and so at risk of cognitive and physical limitations that can last a lifetime.
10. Gender Differences: In India, HCI for girls is marginally higher than for boys.
Source- Press Information Bureau (PIB)