what is the significance of HDI?
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Significance of HDI
1). It is multidimensional as it includes indicators such as literacy rate enrolment ratio, life expectancy rate, infant morality rate etc.
2). It acts as a true yardstick to measures development in real sense. Unlike per capita income, which only indicates that a rise in per capita income implies economic development, HDI consider many other vital social indicators and help in measuring a nation's well being.
3). It helps as a differentiating factors to distinguish and classify different nations on the basis of their HDI ranks.
1). It is multidimensional as it includes indicators such as literacy rate enrolment ratio, life expectancy rate, infant morality rate etc.
2). It acts as a true yardstick to measures development in real sense. Unlike per capita income, which only indicates that a rise in per capita income implies economic development, HDI consider many other vital social indicators and help in measuring a nation's well being.
3). It helps as a differentiating factors to distinguish and classify different nations on the basis of their HDI ranks.
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Answer:
(i) HDI is used to measure level of development of a country.
(ii) It has been published by UNDP and according to it countries has been ranked.
(iii) It is a comprehensive approach which cover all the major aspects of life.
(iv) Apart from income, education, health status, life expectancy, etc., are considered for measuring economic development of a nation.
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