• Structural reforms in areas like taxation and bankruptcy are helping the Indian economy in building resilience to global shocks and maintain a robust growth rate despite challenges.
  • Prudent policy measures being undertaken now will also help contain the stress, currently seen in tightening of financial conditions, oil prices etc.
  • There is a need to recognise that digital technological changes taking place were more fundamental than even the invention of the steam engine, which had laid the foundation for industrial revolution.
  • Human Capital Index (HCI) that was released recently as part of the Human Capital Project of the World Bank, human capital needs to continuously evolve and develop.
  • HCI uses the metric of industrial era to measure the status of human capital for digital age and its production system.
  • The World Bank ranked India 115th among 157 countries in its first-ever Human Capital Index (HCI), drawing criticism from the government.
  • India’s neighbours Bangladesh, Nepal and Sri Lanka were better placed at 106th, 102nd and 74th position, respectively.
  • The index took into account parameters like child mortality, health and education.