Current Affairs

Global Prosperity Index: India Ranks 100

After performing well in Ease of Doing Business Index, India has improved its ranking in ‘The Legatum Prosperity Index 2017’ by securing 100th spot.

Global Prosperity Index: India Ranks 100

What is ‘The Legatum Prosperity Index?

The Legatum Prosperity IndexTM is a framework that evaluates countries on the promotion of their citizens’ flourishing, reflecting both wealth and well-being. It represents the richness of a truly prosperous life, moving beyond traditional macro-economic measurements of a nation’s prosperity, which rely solely on indicators of wealth such as average income per person (GDP per capita). Prosperity Index began in 2006.

How many countries were evaluated?

A total of 149 countries were evaluated on different parametres. This index provides insight into why some countries have seen their prosperity rise

Nine Pillars of Prosperity

The Legatum Prosperity Index has nine pillars that defines prosperity of a country. Each pillar contains around 12 variables. These are

  • The Economic Quality pillar measures countries’ performance in four key areas: structural policies
  • economic satisfaction and expectations, distribution of prosperity, engagement and production quality and diversity
  • The Business Environment pillar measure access to infrastructure such as the
  • Internet and transport, and to cedrit, business flexibility, clear and fair regulati, and perceptions
  • of meritocracy and opportunity.
  • The Governance pillar measures countries’ performance in effective and accountable government, fair elections and political participation, the rule of law, and the level of a country’s democracy.
  • The Personal Freedom pillar measures countries’ performance in individual freedom and social tolerance.
  • Safety & Security pillar measures countries’ performance in national security, personal, precariousness, and personal safety.
  • The Social Capital pillar measures countries’performance social cohesion and engagement, community and family networks (bonding social capital)
  • The Education pillar measures countries’ performance in access to education, quality of education, human capital, and competitiveness.
  • The Health pillar measures countries’ performance basic health outcomes, health infrastructure and preventative care, and physical and mental health.
  • Environment pillar assesses several indicators of the environment, including use of pesticides, land and marine area devoted to nature, and air quality, show a significant relationship with average national wellbeing and material wealth.

India's Report

In the overall Prosperity Index rankings, India has climbed by 4 positions from 104 to 100 when compared to last year. 
India performs best on Governance and Economic Quality and scores lowest on the Natural Environment pillar. 
Pillar India’s Rank
Top Ranking Country
Lowest Ranking
Economic Quality 56 Sweden Yemen
Business Environment 65 US Venezuela
Governance 41 Finland Yemen
Education 99 Switzerland Central African Republic
Health 109 Luxembourg Central African Republic
Safety and Security 134 Singapore Iraq
Personal Freedom 100 New Zealand Sudan
Social Capital 82 Australia Burundi
Natural Environment 139 Norway Pakistan

What does report have to say about India?

According to the report, 
“India has significantly improved in the economic quality and education pillars. For example, more people are now satisfied with their standard of living and household incomes.”
 The report also points out that
“Indonesia and India saw the largest falls in reported availability of adequate food since last year. In India, the number of people saying there had been times when they did not have enough to eat rose from 26 per cent to 35 per cent.” 

Top 5 Countries

  1. Norway 
  2. New Zealand
  3. Finland, 
  4. Switzerland 
  5. Sweden
Global Prosperity Index: India Ranks 100 Global Prosperity Index: India Ranks 100 Reviewed by insiya yadav on December 14, 2017 Rating: 5

No comments: