Inclusive Development Index
The Inclusive Development Index (IDI) is an annual economic index introduced in 2017 by the World Economic Forum (WEF) System Initiative on Shaping the Future of Economic Progress. The emergence of IDI stems from a worldwide consensus on the need for a more inclusive and sustainable model of growth and development that promotes high living standards for all. While GDP growth is best understood as a top-line measure of national economic performance, the IDI is designed as an alternative to GDP as it reflects more closely the criteria by which people evaluate their countries’ socio-economic progress.
The IDI ranks a countries' economic performance in three pillars:
- Growth and Development
- Inclusion
- Intergenerational equity and sustainability
GINI:
The Gini index is a simple measure of the distribution of income across income percentiles in a population. A higher Gini index indicates greater inequality, with high income individuals receiving much larger percentages of the total income of the population. A country in which every resident has the same income would have an income Gini coefficient of 0. A country in which one resident earned all the income, while everyone else earned nothing, would have an income Gini coefficient of 1.
The Inclusive Development Index (IDI) is an annual economic index introduced in 2017 by the World Economic Forum (WEF) System Initiative on Shaping the Future of Economic Progress. The emergence of IDI stems from a worldwide consensus on the need for a more inclusive and sustainable model of growth and development that promotes high living standards for all. While GDP growth is best understood as a top-line measure of national economic performance, the IDI is designed as an alternative to GDP as it reflects more closely the criteria by which people evaluate their countries’ socio-economic progress.
The IDI ranks a countries' economic performance in three pillars:
- Growth and Development
- Inclusion
- Intergenerational equity and sustainability
GINI:
The Gini index is a simple measure of the distribution of income across income percentiles in a population. A higher Gini index indicates greater inequality, with high income individuals receiving much larger percentages of the total income of the population. A country in which every resident has the same income would have an income Gini coefficient of 0. A country in which one resident earned all the income, while everyone else earned nothing, would have an income Gini coefficient of 1.
SUBJECT Variables
INCLUSIVE DEVELOPMENT INDEX
Overall Score
- India's performance on the IDI 2018 dropped further over 2017. India registered a score of 3.09 lesser than the mid-point on a scale of 7 earning a world ranking of 62 amongst 74 emerging economies assessed in 2018.
- The key contributors to India's poor performance on the IDI was its subdued scores on Growth & Development and Inclusion where it was amongst the bottom 10 countries on the list.
- Amongst 11 of its benchmarked G20 peers, India's overall performance on the IDI 2018 was lower than most with the exception of South Africa which scored lower.
SUB-INDEX
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