The finance ministry can continue to quibble, but the stark fact is that decades of underspending in education and health may result in India wasting its demographic dividend.
On October 11, the World Bank launched the latest of its country rankings: the Human Capital Index (HCI).
The objective of the index is to show how low education and health outcomes – or human capital – impact productivity, growth and prosperity. The ranking of 157 countries is also a way to “name and shame” governments that do not prioritise investments in human capital. India, unsurprisingly given its notoriously poor commitment on both health and education, is amongst the countries that have little to celebrate and much to improve.