Development Index GDI Gender Inequality Index GII and the Multidimensional

Development index gdi gender inequality index gii and

This preview shows page 84 - 85 out of 85 pages.

Development Index (GDI), Gender Inequality Index (GII), and the Multidimensional Poverty Index (MPI). The HDR 2019 is significant because it focuses on inequalities in development . It shows inequalities beyond income which exist in society. It also measures loss in the human development progress due to inequalities. India ranks 129 out of 189 countries on the 2019 HDI compared to 130th position last year. Norway is at the first rank while Burundi is at the bottom. In GII, India is at the 122nd place out of 162 countries . IHDI Ranking of India is 130. World Bank World Development Report Title- “Trading for Development in the Age of Global Value Chains”. What is a Global value Chain (GVC)? A value chain refers to the “full range of ac tivities that firms and workers do to bring a product from its conception to its end use and beyond”. It involves activities like production of a good or service and its supply, distribution, and post-sales activities etc. When the value chain is distributed across different firms in different countries, it means that these activities are divided among different countries. This phenomenon where value chain is spread across the globe- it is called GVC. For example, a bike assembled in Finland with parts from Italy, Japan, and Malaysia and exported to the Arab Republic of Egypt is a GVC. The global value chains today account for nearly 50 per cent of trade worldwide. Semi-Annual Global Economic Prospects Report Titled: ‘ ’Heightened Tensions, Subdued Investment’’ . Global growth is set to rise by 2.5% this year, a small uptick from 2.4% in 2019, as trade and investment gradually recover. Emerging market and developing economies will see growth accelerate to 4.1% from 3.5% last year. They face following challenges- o Rising Debt: it climbed to about 170% of GDP in 2018 from 115% of GDP in 2010. o Productivity slowdown: Average output per worker in emerging and developing economies is less than one-fifth that of a worker in an advanced economy. Findings on India o It lowered its projection for India’s economic growth to 5% in 2019 -20 fiscal year but said it would recover to 5.8% in the following year. In its report, the World Bank said tighter credit conditions in the non-banking sector (NBFCs) in India were contributing to a substantial weakening of domestic demand Other Reports World Employment and Social Outlook Released by- International Labour Organisation (ILO). ILO is a UN agency whose mandate is to advance social justice and promote decent work by setting international labour standards It analyses key labour market issues , including unemployment, labour underutilisation, working poverty, income inequality, labour income share and factors that exclude people from decent work. Key Highlights Global unemployment is projected to increase by around 2.5 million in 2020.

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture