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INDICATORS OF GROWTH AND DEVELOPMENT — Economics STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceEconomicsINDICATORS OF GROWTH AND DEVELOPMENT5 Marks
Question
What are the factors included in the human development index? Explain them.
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Answer

$1.$ Introduction:
  • The most recent indicator of development is the Human Development Index.
  • In $1990$ United Nation development program presented Human development Index.
  • This indicator was presented as a measurement of development.
  • Here more focus is on human development not on economic development.
  • In $\text{PQLI}$ only social factor is considered.
  • While in $\text{HDI}$ both economic and social factors are considered.
  • Improvements were introduced in the year $2010$ in minimum and maximum values which were used to measure $\text{HDI}$ since $1990.$
  • The preparing this index Mahbub-ul-haq and Indian economists Dr. Amartya Sen has given contribution .
  • After $2010$ modern methods are being consider for $\text{HDI.}$
$2.$ Determinants Of Human Development Index:
  • Three factors alone are considered while preparing $\text{HDI}$ to make it simple and easy. Instead of absolute values, average of all three values are taken.
  • Life expectancy $(ii)$ Knowledge $(iii)$ Good standard of living
$(i)$ Life expectancy:
  • What is the Expected number of years a person will live from the time of birth?
  • Population of a country determines this value.
  • If it is less than $50$ years, that country is said to be deficient in health.
  • Higher the life expectancy better the $\text{HDI.}$
$(ii)$ Knowledge:
  • To know the quantum of knowledge, adult literacy in percentage i calculated. People in the age group of $15$ years and above are included.
  • Two aspects are included in this $(A)$ number of years of schooling $(b)$ expected number of years of schooling. The gap between expected and actual numbers of years of schooling is take to derive the values.
$(iii)$ Good standard of living:
  • Standard of living refers to the availability of pure drinking water.
  • Medical service, good sanitation, infant mortality rate, percentage of undernourished and malnourished children. Per capita calorie availability per day, mortality rate of infants below $5$ years of age, etc. are considered which depends income.
  • It is measured on the basis of $\text{PPP.}$

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