India ranks 116 in World Bank’s Human Capital Index

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News: The World Bank has released the annual Human Capital Index(HCI).

Facts:

  • Human Capital Index: It was launched in 2018 as part of the Human Capital Project(HCP), a global effort to accelerate progress towards a world where all children can achieve their full potential.
  • Aim: It measures how much capital each country loses through lack of education and health.The Index ranges between 0 and 1 with 1 meaning maximum potential is reached.
  • Methodology: The Index is based on the following three pillars:
    • Survival: Share of children surviving past the age of 5 
    • School:
      • Quantity of education (Expected years of schooling by age 18)
      • Quality of education (Harmonized test scores)
    • Health:
      • Adult survival rates (Share of 15-year-olds who survive until age 60)
      • Healthy growth among children (Stunting rates of children under 5).
  • HCI 2020: It measures health and education data for 174 countries – covering 98% of the world’s population – up to March 2020.

Key Takeaways:

  • Topped by: The index has been topped by Singapore.It was followed by Hong Kong, Japan, Korea and Canada.
  • India: It has been ranked at the 116th position in the index.However, India’s score has increased to 0.49 from 0.44 in 2018.