Explain the meaning of HDI. Mention three components of measuring HDI.
HDI stands for Human Development Index. It may be defined as the process of widening people’s choice as well as raising the level of well-being. The concept of HDI goes beyond income and growth to cover all human choices. It puts the people at the centre stage and covers all aspects of human development with the object of improving the conditions of people from all angles. It is a broader approach to development.
Components of Measuring HDI
Life Expectancy: It is the average expected length of life of a person at the time of birth.
Per Capita Income: Mean income of the people is an economic unit. It is calculated by dividing the total national income of a country by population. It is calculated in dollars for all the countries so that it can be compared.
Gross Enrolment Ratio for Three Levels: It means enrolment ratio for primary schools, secondary schools and higher education beyond secondary level.