Question

what is the importance of human development index

Answer 1

Human Development Index is a measure of economic development and economic welfare.  The Human Development Index examines three important criteria of economic development and uses this to create an overall score between 0 and 1. 1 Indicates a high level of economic development while 0 is a very low level. The Human Development Index combines the following three criteria of economic development.

1) Life Expectancy Index :
Average life expectancy is compared to a global expected life expectancy.

2) Education Index :
a) Mean years of schooling.
b) Expected years of schooling.

3) Income Index

The HDI gives an overall index of economic development. It gives a rough ability to make comparisons on issue of of economic welfare - much more than just using GDP statistics. Human Development Index is important because it helps us to know how a country is doing. It is a better measure of a country's progress.