News: The World Bank has released the annual Human Capital Index(HCI).
- Human Capital Index: It was launched in 2018 as part of the Human Capital Project(HCP), a global effort to accelerate progress towards a world where all children can achieve their full potential.
- Aim: It measures how much capital each country loses through lack of education and health.The Index ranges between 0 and 1 with 1 meaning maximum potential is reached.
- Methodology: The Index is based on the following three pillars:
- Survival: Share of children surviving past the age of 5
- Quantity of education (Expected years of schooling by age 18)
- Quality of education (Harmonized test scores)
- Adult survival rates (Share of 15-year-olds who survive until age 60)
- Healthy growth among children (Stunting rates of children under 5).
- HCI 2020: It measures health and education data for 174 countries – covering 98% of the world’s population – up to March 2020.
- Topped by: The index has been topped by Singapore.It was followed by Hong Kong, Japan, Korea and Canada.
- India: It has been ranked at the 116th position in the index.However, India’s score has increased to 0.49 from 0.44 in 2018.