Govt to ignore World Bank's Human Capital Index

Marco Green
October 12, 2018

The HCI measures how countries are developing their human capital based on five indicators - the probability of survival to age five, a child's expected years of schooling, test scores, the adult survival rate and the proportion of children under five who suffer from stunted growth. It is a key driver of unsustainable, inclusive economic growth, but investing in health and education has not gotten the attention it deserves", he said in a statement."This index creates a direct line between improving outcomes in health and education, productivity, and economic growth.

Poor investment in human capital puts a threat on productivity of the India's future workforce, the World Bank said revealing that India's human capital productivity will be half of what Singapore citizens will achieve. Factoring in what children actually learn, expected years of school is only 5.8 years, effectively putting to question the impact of the Right to Education Act, 2009, that promises eight years of compulsory education to all Indians.

"Children come at the age of six to school at quite different levels, some able to read, some able to write, but some barely literate or able to recognise letters of the alphabet", said Mr Lee. On the harmonised test scores matrix, students in India score 355 on a scale where 625 represents advanced attainment and 300 represents minimum attainment. And 17 out of 100 children are stunted, and so at risk of cognitive and physical limitations that can last a lifetime.

The Human Capital Project seeks to raise awareness and increase demand for interventions to build human capital.

Countries in Africa with high childhood stunting rates and low access to formal education fared worst, while wealthier nations with strong educational systems fared best.

Kim said there were 28 countries, from Indonesia to Lesotho to Ukraine, who signed on as "early adopters" of the index to work with the World Bank to devise plans to improve their investment in health and education. Further, the earnings potential in the country was 88 percent of potential, better than the U.S, which ranked 24th between Israel and Macau, productivity and earnings were measured at 76 percent of potential.

Singapore got its top healthcare and education systems because its leaders took the necessary steps to develop them, not because it was filled with insane rich Asians.

The Index measures each country's distance to the frontier of complete education and full health for a child born today. It is constructed for 157 countries. "For instance, for the schooling parameter, though quantity is assessed using enrolment rates reported by UNESCO, quality is gauged using harmonized test scores from major global student achievement testing programs", the union government said in a statement.

Other reports by Click Lancashire

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