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India Achieves Remarkable Growth in Life Expectancy and Per Capita Income: UN Report

The United Nations Human Development Index (HDI) report has hailed India's remarkable progress in terms of life expectancy and per capita income. The report highlights significant improvements in various indicators of human development, positioning India on a positive trajectory. Life Expectancy Soars: According to the HDI report, India's average life expectancy witnessed a remarkable increase from 62.7 years in 2021 to 67.7 years in 2022. This upward trend signifies a positive change of 9.1 years since 1990. The rise in life expectancy reflects the nation's commitment to enhancing the quality of life for its citizens. Per Capita Income Surges: India's gross national income (GNI) per capita has experienced a notable growth of 6.3% in just 12 months, reaching $6951. This increase in per capita income signifies a positive change of approximately 287% since 1990. The rise in income levels showcases the economic progress and development witnessed by the country. Education and Gender Equality: The HDI report also highlights significant advancements in education and gender equality. India demonstrated progress in reducing gender inequality, achieving a Gender Inequality Index (GII) of 0.437, surpassing the global average. The report emphasizes the importance of women-led development and the need for continued efforts to ensure a more equitable future for all. Education Access: The report indicates an increase in expected years of schooling, with each individual now having an average of 12.6 years of education. This improvement in education access is crucial for human development and empowering individuals to lead productive lives. Medium Human Development Category: India's HDI score for 2022 stands at 0.644, placing it in the 'medium human development' category. This score signifies progress after a drop in the previous year and a relatively stagnant trend in previous years. India's consistent efforts to improve human development have resulted in significant positive changes over time. Global Comparison: While India's progress is commendable, the global HDI values have experienced a decline for the second consecutive year. The COVID-19 pandemic has exacerbated inequalities between rich and poor countries, hindering human development progress worldwide. The report highlights the urgent need for global cooperation to address these challenges and achieve sustainable development goals. While there is still room for improvement, India's achievements demonstrate the potential for continued growth and development. The report serves as a call to action for governments, organizations, and individuals to work together towards a more equitable and prosperous future for all.  

18 Mar 2024
Good News

India Continues to Uphold its Growth Story Despite Challenging Decade, States World Bank

Growth Trajectory: Optimism Despite Slowdown In a recent report published by the World Bank, India's growth story remains intact despite facing the worst half-decade of growth in the past 30 years. The country is projected to be the fastest-growing major economy, with a growth rate of 6.3% for the current fiscal year. The World Bank forecasts India's growth to reach 6.4% in FY25 and further accelerate to 6.5% in FY26, indicating a positive trajectory for the nation's economy despite the prevailing slowdown. The report emphasizes that investment, although expected to decelerate slightly, will remain robust, supported by increased public investment and improved corporate balance sheets, including those of the banking sector. Earlier, India had forecasted an annual growth rate of 7.3% for the fiscal year ending in March, surpassing all other major global economies. This positive outlook is considered a significant boost for Prime Minister Narendra Modi ahead of the upcoming general elections scheduled to take place before May. Cautionary Notes: NSO's Advisory on Preliminary Projections However, the National Statistical Office (NSO) has cautioned that these projections for 2023/24 are preliminary and subject to revision based on improved data coverage, actual tax receipts, and state subsidy spending. The World Bank's estimation of India's growth for the current fiscal year stands at 6.3%. The World Bank's Global Economic Prospects report also sheds light on the global economic scenario, projecting a further slowdown in global growth to 2.4% in 2024 compared to the estimated 2.6% growth for 2023. This performance is considered the weakest in the past half-decade. Global Economic Context: World Bank's Insights The report warns that without significant corrective measures, the 2020s may be remembered as a decade of wasted opportunities. It highlights the concern of interest payments and their impact on India's economy, particularly in countries with high debt levels such as India, Pakistan, and Sri Lanka. The World Bank also identifies risks posed by extreme weather events and elections. The uncertainty surrounding the elections could potentially dampen private sector activity, including foreign investment. However, the implementation of policies aimed at reducing uncertainty and strengthening growth potential after the elections could lead to an improvement in growth prospects. In the coming fiscal year, the World Bank expects private consumption to taper off as pent-up post-pandemic demand diminishes and high food price inflation limits spending, especially among low-income households. Despite the challenges faced in the past half-decade, India's growth story remains intact, and the nation continues to strive for economic progress. The World Bank's positive outlook provides hope for sustained development and reinforces India's position as one of the fastest-growing major economies in the world.

12 Jan 2024
Good News

Global News

World Happiness Index: Know Which Is the Happiest Country in the World

  The World Happiness Report, which combines data from international surveys to report how people feel about their lives in more than 150 nations, is celebrating its tenth anniversary this year. In these difficult times, the World Happiness Report 2022 shines a bright light. The epidemic also resulted in a rise in charitable giving and social support. It is important to keep in mind that everyone wants to be happy and that people are capable of coming together to support one another when they are in dire need as we fight the evils of disease and war. The World Happiness Index is calculated based on facts acquired from surveys of thousands of respondents in each country who are asked to rate their subjective well-being (happiness score). Statistics are developed based on these responses. The following factors are taken into account while determining the happiness index:  Life expectancy GDP per capita Social support Generosity The liberty to decide one’s course in life The public’s view of corrupt practices Both positive and negative effects might be seen. Here is the list of the top 5 happy nations in the world: Finland Finland is the happiest nation in the world with a score of 7.842 out of 10. There is a  strong sense of civic solidarity and mutual trust among the people. Citizens could easily get through the Covid 19 pandemic due to their freedom to make their own decisions and their trust in the government. Denmark Danish culture and history place a high emphasis on the need for trust and communal values, which encourage a sense of one another's well-being and help build strong social bonds. Iceland In comparison to other countries, Iceland has above-average healthcare, and happiness is significantly influenced by health. The vast majority of its citizens have access to high-quality medical facilities. Iceland is a friendly country with some of the most beautiful natural beauty in the world.  Netherlands The Netherlands sometimes referred to as Holland by tulip enthusiasts, has a rating of 7.464 out of 10. The Netherlands reached fourth place thanks to its generosity and remarkably low perceived levels of corruption. Luxembourg Fifth-placed Luxembourg has historical landmarks and castles, as well as beautiful natural settings, delectable cuisine, and a diverse cultural scene.

27 Dec 2022
Global News

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