India continues to rank below Pakistan, other neighbours on Inclusive Development Index

Agencies
January 22, 2018

Davos, Jan 22: India was on Monday ranked at the 62nd place among emerging economies on an Inclusive Development Index, much below China's 26th position and Pakistan's 47th. Norway remains the world's most inclusive advanced economy, while Lithuania again tops the list of emerging economies, the World Economic Forum (WEF) said while releasing the yearly index in Davos before the start of its annual meeting, to be attended by several world leaders including Prime Minister Narendra Modi and US President Donald Trump.

The index takes into account the "living standards, environmental sustainability and protection of future generations from further indebtedness", the WEF said. It urged the leaders to urgently move to a new model of inclusive growth and development, saying reliance on GDP as a measure of economic achievement is fuelling short-termism and inequality.

India was ranked 60th among 79 developing economies last year, as against China's 15th and Pakistan's 52nd position.

The 2018 index, which measures progress of 103 economies on three individual pillars -- growth and development; inclusion; and inter-generational equity -- has been divided into two parts. The first part covers 29 advanced economies and the second 74 emerging economies.

The index has also classified the countries into five sub-categories in terms of the five-year trend of their overall Inclusive Development Growth score -- receding, slowly receding, stable, slowly advancing and advancing.

Despite its low overall score, India is among the ten emerging economies with 'advancing' trend. Only two advanced economies have shown 'advancing' trend.

Among advanced economies, Norway is followed by Ireland, Luxembourg, Switzerland and Denmark in the top five. Small European economies dominate the top of the index, with Australia (9) the only non-European economy in the top 10. Of the G7 economies, Germany (12) ranks the highest. It is followed by Canada (17), France (18), the UK (21), the US (23), Japan (24) and Italy (27).

The top-five most inclusive emerging economies are Lithuania, Hungary, Azerbaijan, Latvia and Poland.

Performance is mixed among BRICS economies, with the Russian Federation ranking 19th, followed by China (26), Brazil (37), India (62) and South Africa (69).

Of the three pillars that make up the index, India ranks 72nd for inclusion, 66th for growth and development and 44th for inter-generational equity.

The neighbouring countries ranked above India include Sri Lanka (40), Bangladesh (34) and Nepal (22). The countries ranked better than India also include Mali, Uganda, Rwanda, Burundi, Ghana, Ukraine, Serbia, Philippines, Indonesia, Iran, Macedonia, Mexico, Thailand and Malaysia.

Although China ranks first among emerging economies in GDP per capita growth (6.8 per cent) and labour productivity growth (6.7 per cent) since 2012, its overall score is brought down by lacklustre performance on inclusion, the WEF said.

It found that decades of prioritising economic growth over social equity has led to historically high levels of wealth and income inequality and caused governments to miss out on a virtuous circle in which growth is strengthened by being shared more widely and generated without unduly straining the environment or burdening future generations.

Excessive reliance by economists and policy-makers on Gross Domestic Product as the primary metric of national economic performance is part of the problem, the WEF said.

The GDP measures current production of goods and services rather than the extent to which it contributes to broad socio-economic progress as manifested in median household income, employment opportunity, economic security and quality of life, it added.

The WEF also said that rich and poor countries alike are struggling to protect future generations, as it cautioned political and business leaders against expecting higher growth to be a panacea for the social frustrations, including those of younger generations who have shaken the politics of many countries in recent years.

Comments

Well Wisher
 - 
Monday, 22 Jan 2018

Effect of Acche Din saar.

en maadodhu namma karma. mangan kaiyalli manikya sikkideyalla

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
February 9,2020

Panaji, Feb 10: Archbishop of Goa and Daman, Rev Filipe Neri Ferrao, has urged the central government to "immediately and unconditionally revoke the Citizenship Amendment Act" and stop quashing the "right to dissent".

He also appealed to the government not to implement the proposed countrywide National Register of Citizens (NRC) and the National Population Register (NPR).

Diocesan Centre for Social Communications Media, a wing of the Goa Church, in a statement on Saturday said, "The Archbishop and the Catholic community of Goa would like to appeal to the government to listen to the voice of millions in India, to stop quashing the right to dissent and, above all, to immediately and unconditionally revoke the CAA and desist from implementing the NRC and the NPR."

The CAA, NRC and NPR are "divisive and discriminatory" and will certainly have a "negative and damaging effect" on a multi-cultural democracy like ours, the church said.

There is serious concern that NRC and NPR will result in "direct victimisation of the underprivileged classes, particularly Dalits, adivasis, migrant labourers, nomadic communities and the countless undocumented people who, after having been recognised as worthy citizens and voters for more than 70 years, will suddenly run the risk of becoming stateless and candidates for detention camps," it said.

There has been widespread discontent and open protests throughout the country and even abroad against the CAA, NRC and NPR, which are "forecasting a systematic erosion of values, principles and rights" that have been guaranteed to all citizens in the Constitution, the release said.

Eminent citizens, including top intellectuals and legal luminaries, have taken a studied and unequivocal stand against the CAA, NRC and NPR, it noted.

Goa also witnessed several protests, which transcended the confines of religious and caste affiliation and brought people from all walks of life together on one united platform, said the statement.

It said Christians in India have always been a peace loving community and deeply committed to the ideals of justice, liberty, equality and fraternity, enshrined in the
Constitution.

"We have always taken great pride that our beloved country is a secular, sovereign, socialist, pluralistic anddemocratic republic," the church said.

The very fact that CAA uses religion goes against the secular fabric of the country, it said.

"It goes against the spirit and heritage of our land which, since times immemorial, has been a welcoming home to all, founded on the belief that the whole world is one big family," the church said.

"We pray for our beloved country, that good sense, justice and peace prevail in the hearts and minds of all," it added.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
July 23,2020

Jerusalem, Jul 23: Merging Israel's technological expertise with India's mass production capabilities, experts from the two countries have joined hands to develop rapid testing for Covid-19 in under 30 seconds.

Israel will soon send a high-level research delegation to India to conduct a series of "final stages of testing" as part of the joint effort to develop the rapid testing kits for Covid-19 .

A high ranking team from the Directorate of Defence Research and Development (DDR&D), in the Ministry of Defense, which has been working with India's DRDO to develop rapid testing for Covid-19 in under 30 seconds, is to leave from Tel Aviv to New Delhi on a special flight in a few days, Israel's Ministry of Defence said in a statement on Thursday.

Israel's Ministry of Foreign Affairs (MFA) and Ministry of Health are also involved in this unprecedented cooperation between the two countries which aims at "merging Israeli technology with Indian development and production capabilities to allow a swift resumption of normal life alongside the virus".

The DDR&D team will conduct a series of "final stages of testing" to determine the effectiveness of a number of rapid diagnostic solutions with their Indian counterparts.

Since the start of the pandemic, the DDR&D has tested dozens of diagnostic technologies. Some of them have matured and passed initial trials in Israel, however in order to complete testing and prove their effectiveness, these must be tested on a wide range of patients, IMoD said.

The four tech systems that will be tested are - voice test, breathalyzer test based on terra-hertz waves, isothermal test, and polyamino acids test.

"What they all have in common is the ability to detect the presence of the virus in the body quickly- usually within minutes. Developing diagnostic capabilities is a goal for the State of Israel and of many additional countries around the world. It is the most effective way to cut off 'chains of infection', prevent prolonged quarantine and enable the reopening of the global economy," the statement said.

"We hope that the research and development led by the DDR&D together with our excellent industries and academic institutions, will lead to a breakthrough that will change the way we diagnose and fight the virus, while giving the boost necessary to 'restart' our economy," Defense Minister Benny Gantz said.

Foreign Minister Gabi Ashkenazi noted that this cooperation provides a unique opportunity for scientific and technological cooperation that can assist Israel, India and the world in coping both with the pandemic and with the economic crisis that came with it.

The cooperation between Israel and India will enable the delegation and its Indian counterparts, to collect tens of thousands of samples in just ten days, and analyze them using computer systems based on artificial intelligence. This massive sampling will shorten processes and advance the approval of effective technology. All tests will be validated using PCR tests.

"The cooperation between India and Israel on Covid-19 is a good example of harnessing the scientific and technological strengths that the two countries have for larger, common good. It will also further deepen our strategic ties,” India's Ambassador Sanjeev Singla told PTI.

The flight will be carrying some breakthrough emerging Israeli technologies for combatting Covid-19, which have been donated by the Israeli foreign ministry and the private sector, in order to bolster India’s response to the virus outbreak.

The plane will also deliver mechanical ventilators which were given special permission by Israel for export to India.

Prime Minister Narendra Modi and his Israeli counterpart Benjamin Netanyahu have held three telephonic conversations since the outbreak of the pandemic and promised mutual assistance in dealing with the virus, committing to joint technological and scientific research between the countries.

The Israeli media widely reported that Modi lifted a ban on the export of Hydroxychloroquine at Netanyahu's request.

"The past few years have cemented the strategic relations between India and Israel and have included two historical visits of the Prime Ministers in Israel and in India," a press statement from the ministry of defence said.

"India seeks to integrate advanced technologies in its hospitals as they prepare to treat massive waves of Covid-19 patients on an Indian scale. The Israeli companies chosen by the MFA, MOD and Israel Defence Forces to be sent to India are potentially given unique access to one of the largest economies in the world to provide monitoring and treatment technologies while significantly reducing contact between the patients and the medical staff," it said.

"By opening the door to India’s market with its development and production capabilities, these Israeli technologies can be mass produced at a lower cost and could in future be jointly exported to third countries," it said.

"The COVID-19 pandemic is a global challenge, so it is only right that the solution be a global scientific cooperation between countries. India and Israel’s military R&D cooperation is well known for its success. I have no doubt the same will be seen in the private sector joined by brilliant scientific minds from both countries to introduce a breakthrough in swift and simple testing procedures,” said Prof. Nati Keller, an infectious diseases specialist from Sheba Medical Center, who is leading the medical side of the delegation.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 14,2020

Chennai/New Delhi, Jan 14: India's annual electricity demand in 2019 grew at its slowest pace in six years with December marking a fifth straight month of decline, government data showed, amid a broader economic slowdown that led to a drop in sales of everything from cars to cookies and also to factories cutting jobs.

Electricity demand is seen as an important indicator of industrial output in the country and a sustained decline could mean a further slowdown in the economy.

India's power demand grew at 1.1% in 2019, data from the Central Electricity Authority showed, the slowest pace of growth since a 1% uptick seen in 2013. The power demand growth slowdown in 2013 was preceded by three strong years of consumption growth of 8% or more.

In December, the country's power demand fell 0.5% from the year-earlier period, representing the fifth straight month of decline, compared with a 4.3% fall in November.

But in India's western states of Maharashtra and Gujarat, two of India's most industrialised provinces, monthly demand increased.

In October, power demand had fallen 13.2% from a year earlier, its steepest monthly decline in more than 12 years, as a slowdown in Asia's third-largest economy deepened.

Industry accounts for more than two-fifths of India's annual electricity consumption, while homes account for nearly a fourth and agriculture more than a sixth.

The slower demand growth is a blow for many debt-laden power producers, who are facing financial stress and are owed over $11 billion by state-run distribution companies.

India's overall economic growth slowed to 4.5% in the July-September quarter, government data released in November showed, the weakest pace since 2013 as consumer demand and private investment fell.

The government has estimated growth in the current financial year that runs through to March will be the slowest since the 2008 global crisis.

"This reflects overall economic slowdown, because if you look at other high frequency data like diesel consumption, everywhere you are seeing contraction," Rupa Rege Nitsure, chief economist at L&T Financial Holdings.

But India's central bank will not have much scope to cut rates to stimulate the economy because inflation has been rising sharply and reached 7.35% in December compared with 1.97% in January last year.

Economists say India's growth will continue to hover around 4.5% levels in the Oct-Dec quarter.

"In the Oct-Dec quarter as well growth (GDP) will be around the same level as July-September. My estimate for the full year is around 4.7% growth," Nitsure said.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.