India ranks 132 out of 191 in UNDP's human development index; Bangladesh better

News Network
September 8, 2022

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India ranked 132 out of 191 countries in the 2021 human development index, according to a report released by the United Nations Development Programme (UNDP).

India's HDI value of 0.633 places the country in the medium human development category, lower than its value of 0.645 in the 2020 report. India ranked 131 among 189 countries in the 2020 human development index.

"Like global trends, in India's case, the drop in HDI from 0.645 in 2019 to 0.633 in 2021 can be attributed to falling life expectancy - 69.7 to 67.2 years. India's expected years of schooling stand at 11.9 years, and the mean years of schooling are at 6.7 years," the report said.

Human Development - a measure of a nation's health, education, and average income - has declined for two years in a row - 2020 and 2021, reversing five years of progress, the report said.

This is in line with the global decline, indicating that human development across the world has stalled for the first time in 32 years, the report said.

The report said a large contributor to the Human Development Index's recent decline is a global drop in life expectancy, down from 72.8 years in 2019 to 71.4 years in 2021.

The latest Human Development Report - Uncertain Times, Unsettled Lives: Shaping our Future in a Transforming World - launched by UNDP - argues that layers of uncertainty are stacking up and interacting to unsettle life in unprecedented ways.

"The world is scrambling to respond to back-to-back crises. We have seen with the cost of living and energy crises that, while it is tempting to focus on quick fixes like subsidizing fossil fuels, immediate relief tactics are delaying the long-term systemic changes we must make," said Achim Steiner, administrator, UNDP.

"We are collectively paralyzed in making these changes. In a world defined by uncertainty, we need a renewed sense of global solidarity to tackle our interconnected, common challenges," Steiner said.

These intersecting crises have impacted India's development trajectory just as they have in much of the world.

The HDI measures progress on 3 key dimensions of human development - a long and healthy life, access to education, and a decent standard of living. It is calculated using four indicators – life expectancy at birth, mean years of schooling, expected years of schooling, and the Gross National Income (GNI) per capita.

"The Human Development Report shows that progress globally is in reverse. India's decline in human development mirrors this trend – impacted by intersecting crises. But there is good news. Compared to 2019, the impact of inequality on human development is lower," said Shoko Noda, UNDP Resident Representative in India.

"India is bridging the human development gap between men and women faster than the world. This development has come at a smaller cost to the environment. India's growth story reflects the country's investments in inclusive growth, social protection, gender-responsive policies, and push towards renewables to ensure no one is left behind," said Noda.

While some countries are beginning to get back on their feet, recovery is uneven and partial, further widening inequalities in human development. Despite a significant economic recovery in 2021, the health crisis intensified, with two-thirds of countries recording even further reductions in life expectancy at birth, the report said.

India's HDI value continues to exceed South Asia's average human development. India's HDI value has been steadily catching up to the world average since 1990 - indicating a faster than the global rate of progress in human development. This is a result of policy choices made by the country over time, including investments made in health and education.

South Asian economies like Bangladesh (129) and Bhutan bucked the trend and registered an improvement, the report pointed out.

The report also suggested that stress, sadness, anger, and worry have been increasing over the last decade, now reaching record levels.

On average, countries spend less than two per cent of their healthcare budgets on mental health, which limits access to mental health services for citizens globally.

Uncertainty, inequality, and insecurity go hand in hand with polarization and lack of trust. Polarization and mistrust shrink our capacity for social dialogue and stifle collective action, it said.

The report recommends implementing policies that focus on 3 Is - investment - from renewable energy to preparedness for pandemics and insurance - including social protection - to prepare our societies for the ups and downs of an uncertain world. While innovation in its many forms - technological, economic, cultural - can also build capacities to respond to whatever challenges come next.

"Policies that focus on the 3Is will enable people to thrive in the face of uncertainty. India is already a frontrunner in these areas with its push towards renewable energy, boosting social security for the most vulnerable and driving the world's largest vaccination drive through Co-WIN, supported by UNDP," added Noda.

Over the last decade, India has lifted a staggering 271 million out of multidimensional poverty.

The country is improving access to clean water, sanitation, and affordable clean energy. India has also boosted access to social protection for vulnerable sections of society, especially during and after the pandemic, with a 9.8 per cent increase in the budgetary allocation to the Social Services sector in 2021-22 over 2020-21, the report said.

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News Network
November 17,2024

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An Israeli airstrike on the office of Syria’s Baath party in Lebanon’s capital Beirut has killed the Lebanese resistance movement Hezbollah's Media Relations Officer, Mohammad Afif, reports say.

Lebanon's National News Agency (NNA) reported that the Israeli raid struck the Ba'ath party’s building in central Beirut district of Ras Al-Naba'a on Sunday, adding that the strike was an attempt to assassinate the leader of the resistance media front.

According to Baath Secretary-General Ali Hijazi, Afif was having a meeting in the Baath Party headquarters when Israel carried out the attack.

"Afif did not fight with weapons and did not lead a military unit in Hezbollah. Rather, he led a media unit," he said.

Reuters, Sky News, Al Jazeera and a number of Henrew-language media reported that Afif was killed in the Israeli strike.

However, Hezbollah has not yet confirmed Afif’s death or whether he was present at the site or not.

Earlier, the Lebanese Health Ministry said at least one person was killed and three others injured after an Israeli strike targeted a central district in Beirut.

Lebanon's al-Mayadeen television network reported that five people were killed in the attack.

The latest development came after Afif said Hezbollah was behind the Caesarea operation and targeting Netanyahu’s home during a speech at the Ghobeiry area in the southern suburbs of Beirut on October 22.

This was the second assassination attempt on Afif in the last two months, after he survived an attack on the Hezbollah media relations office several weeks ago.

Israel launched a ground assault and massive air campaign against Lebanon in late September after a year of exchanging fire across the Lebanese border in parallel with the Gaza war.

At least 3,287 people have been killed in Israeli strikes in Lebanon over the past year, with the vast majority in the past seven weeks. Another 14,222 have been wounded, mostly women and children.

In response to the ongoing aggression, the Lebanese resistance movement Hezbollah has been staging hundreds of retaliatory strikes against the occupied Palestinian territories and the Israeli forces trying to advance on southern Lebanese areas.

The movement has vowed to sustain its strikes until the regime ends the escalation.

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News Network
November 21,2024

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Shares of Adani Group companies lost about $28 billion in market value in morning trade on Thursday after US prosecutors charged the billionaire chairman of the Indian conglomerate in an alleged bribery and fraud scheme.

Gautam Adani's flagship company Adani Enterprises tumbled 23 per cent, while Adani Ports, Adani Total Gas, Adani Green, Adani Power, Adani Wilmar and Adani Energy Solutions, ACC , Ambuja Cements and NDTV fell between 20 per cent and 90 per cent.

Adani group's 10 listed stocks had a total market capitalisation of about $141 billion at 0534 GMT, compared to $169.08 billion on Tuesday.

US authorities said Adani and seven other defendants, including his nephew Sagar Adani, agreed to pay about $265 million in bribes to Indian government officials to obtain contracts expected to yield $2 billion of profit over 20 years, and develop India's largest solar power plant project.

Adani Green in a statement on Thursday said the US Justice Department had issued a criminal indictment against board members Gautam Adani and Sagar Adani and the Securities and Exchange Commission had issued a civil complaint against them.

The US Justice Department also included Adani Green board member Vneet Jaain in the criminal indictment, it said.

Adani Green's units had decided not to proceed with the proposed US dollar denominated bond offerings due to developments, it added.

"Investors will shy away from Adani Group stocks ... and that's what this sharp selling is signifying," said Saurabh Jain, assistant vice president of retail equities research at SMC Global Securities.

"This could hurt the credibility of the group and maybe borrowing costs will rise," he said.

The indictment comes nearly two years after US shortseller Hindenburg Research alleged that Adani had improperly used tax havens and was involved in stock manipulation, allegations the conglomerate denied.

Also in early Asian trading on Thursday, Adani dollar bonds slumped, with prices down 3c-5c on bonds for Adani Ports and Special Economic Zone. The falls were the largest since the Adani Group came under a short-seller attack in February 2023.

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News Network
November 21,2024

adani.jpg

Shares of Adani Group companies lost about $28 billion in market value in morning trade on Thursday after US prosecutors charged the billionaire chairman of the Indian conglomerate in an alleged bribery and fraud scheme.

Gautam Adani's flagship company Adani Enterprises tumbled 23 per cent, while Adani Ports, Adani Total Gas, Adani Green, Adani Power, Adani Wilmar and Adani Energy Solutions, ACC , Ambuja Cements and NDTV fell between 20 per cent and 90 per cent.

Adani group's 10 listed stocks had a total market capitalisation of about $141 billion at 0534 GMT, compared to $169.08 billion on Tuesday.

US authorities said Adani and seven other defendants, including his nephew Sagar Adani, agreed to pay about $265 million in bribes to Indian government officials to obtain contracts expected to yield $2 billion of profit over 20 years, and develop India's largest solar power plant project.

Adani Green in a statement on Thursday said the US Justice Department had issued a criminal indictment against board members Gautam Adani and Sagar Adani and the Securities and Exchange Commission had issued a civil complaint against them.

The US Justice Department also included Adani Green board member Vneet Jaain in the criminal indictment, it said.

Adani Green's units had decided not to proceed with the proposed US dollar denominated bond offerings due to developments, it added.

"Investors will shy away from Adani Group stocks ... and that's what this sharp selling is signifying," said Saurabh Jain, assistant vice president of retail equities research at SMC Global Securities.

"This could hurt the credibility of the group and maybe borrowing costs will rise," he said.

The indictment comes nearly two years after US shortseller Hindenburg Research alleged that Adani had improperly used tax havens and was involved in stock manipulation, allegations the conglomerate denied.

Also in early Asian trading on Thursday, Adani dollar bonds slumped, with prices down 3c-5c on bonds for Adani Ports and Special Economic Zone. The falls were the largest since the Adani Group came under a short-seller attack in February 2023.

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