Economic Indicators and Various Reports On It- GDP, FD, EODB, WIR etc

[pib] Social Progress Index (SPI) for states and districts

Note4Students

From UPSC perspective, the following things are important :

Prelims level : Social Progress Index (SPI)

Mains level : Read the attached story

Economic Advisory Council to Prime Minister (EAC-PM) will release the Social Progress Index (SPI) for states and districts of India on December 20, 2022.

Social Progress Index (SPI) Report

  • SPI is a comprehensive tool intended to be a holistic measure of the Social Progress made by the country at the national and sub-national levels.
  • The report has been prepared by Institute for Competitiveness, headed by Dr Amit Kapoor and the Social Progress Imperative, headed by Michael Green.
  • It was mandated by Economic Advisory Council to the Prime Minister of India.

Objectives of the report

  • With state and district-wise rankings and scorecards, the report aims to provide a systematic account of the social progress made at all levels in the country.
  • The report also sheds light on the achievements of the districts that have performed well on the index and the role of the states in achieving social progress.
  • A special section of the report provides an analysis of the Aspirational Districts of India, leading to a broader understanding of the social progress at the grassroots level.
  • The report will act as a critical enabler and tool for policymakers in the coming years for achieving sustained socio-economic growth.

Components of SPI

SPI assesses the performance of states and districts on three dimensions of social progress:

  1. Basic Human Needs: It assesses the performance of states and districts in terms of Nutrition and Basic Medical Care, Water and Sanitation, Personal Safety and Shelter.
  2. Foundations of Wellbeing: It evaluates the progress made by the country across the components of Access to Basic Knowledge, Access to Information and Communication, Health and Wellness, and Environmental Quality.
  3. Opportunity: It focuses on aspects of Personal Rights, Personal Freedom and Choice, Inclusiveness, and Access to Advanced Education.

(This newscard will be updated once the report is published.)

Need for SPI

  • GDP is not a holistic measure of a nation’s development: It would be incorrect to state that the economic progress is completely divorced from progress made in areas mentioned above.
  • Social outcomes of developmental economics: The primary goal of the SPI is to provide a rigorous tool to benchmark progress and stimulate progress within countries.
  • No single holistic parameter available: Several indicators, like GHI and HDI, go beyond GDP, but none captures social progress as finely as SPI.
  • Doing away with biased reports: India does not display a respectable position in the index, as even the small neighbours like Nepal have a better rank. India is also the lowest rank holder in BRICS.

 

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