Why in news?
India was ranked at 62nd place among emerging economies on Inclusive Development Index (IDI-2018) released by World Economic Forum (WEF).
FACTS FOR PRELIMS
Norway was again remained world’s most inclusive advanced economy, while Lithuania again topped list of emerging economies. India’s position is much below China (26) and Pakistan (47).
INCLUSIVE DEVELOPMENT INDEX
Inclusive Development Index (IDI) measures progress of 103 economies on three individual pillars – growth and development; inclusion; and inter-generational equity.
It has been divided into two parts. The first part covers 29 advanced economies and second 74 emerging economies.
The index takes into account the living standards, environmental sustainability and protection of future generations from further indebtedness. The index also has classified countries into five sub-categories in terms of five-year trend of their overall Inclusive Development Growth score — receding, stable, slowly advancing and advancing.
BRICS economies: Russia was ranked at 19th, followed by China (26), Brazil (37), India (62) and South Africa (69)
SOURCE – LIVEMINT.