HUMAN DEVELOPMENT- Four Indices

HUMAN DEVELOPMENT- Four indices that measure the real wealth of the nation

Human development, as the word itself suggests, means, development of the human life. It basically involves raising the level of well-being of the people and also widening people’s choices. When there is an accretion to human choices, be it in  economic, social, cultural or political arena, it is then when it is said that human development is been achieved. But this is an unending process. There is no prescribed or fixed limit to achieving a state of human development

“People are the real wealth of the nation”, this is the motto that is followed by any economy when it talks of human development. It was in 1990 that the concept of human development came into action with a greater force. The basic aim of human development is to create an enabling environment in which people could enjoy long and healthy lives and that the horizon of their choices is widened.

Initially, when the main focus of every economy was to strive for development, and by development here, we mean, economic development, there was some humanistic element missing. There was something beyond it and a new approach was needed to address this gap. This gap was filled up by the concept of human development, which tends to equalise human welfare with material wealth.

According to the Human Development Report 2010, there are various dimensions that are concerned with Human Development. These include- Empowerment, Health, Education, Civic and community well-being, Human Security, Sustainability, Decent job and perceptions of individual well being and happiness.

Human Development of any economy can be judged the calculation of four composite indices. Here, the first one was given by the first Human Development Report 1990 and the last three were given by the Human Development Report 2010. These are-

• HDI- Human Development Index;
• IHDI- Inequality-adjusted Human Development Index;
• GII- Gender Inequality Index;
• MPI- Multidimensional Poverty Index.

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