India placed at 115th position on Human Capital Index report by World Bank, Finance Ministry rejects the finding

India on Thursday rejected findings of World Bank's report on Human Capital Index (HCI) which placed country at 115th position, lower than Nepal, Sri Lanka, Myanmar and Banglesh. World Bank, in its first report on HCI, ranked 157 ecomies on parameters like child mortality, health and education. 

In a statement, Finance Ministry said HCI score for India does t reflect key initiatives that are being taken for developing human capital in country. 

" Samagra Shiksha Abhiyan has been launched to focus on access and quality of education for benefit of 197 million school children. Through Ayushman Bharat Programme, India has w launched world's largest Health Insurance initiative providing 500 million citizens with equate health cover, and transforming 150,000 Health Centres into Wellness Centres to provide comprehensive primary healthcare services," it said. 
 

Prhan Mantri Ujjwala Yojana has reduced drudgery and improved health of about 38 million women by providing m with LPG connection to replace firewood and coke based cooking stoves, it ded. 
 

"In pursuing with nda of financial inclusion, Prhan Mantri Jandhan Yojana has provided access to formal banking services to over 328 million persons. share of account ownership among rural ults has more than doubled from 33 per cent in 2011 to 79 per cent in 2017, significantly bridging rural-urban gap," it said. 

Financial inclusion and Ahaar identification system has enabled India to make direct cash transfer of about USD 64 billion to citizens, thus improving governance and social protection, it said.

" Government of India, refore, has decided to igre HCI and will continue to undertake its path breaking program for human capital development aiming to rapidly transforming quality and ease of life for all its children," it said. 
 

Finance Ministry statement said government has taken various initiatives for transforming human capital in India touching lives of millions of people living in rural and tribal areas. 

" qualitative aspects of improved governance that have a strong correlation with human capital development cant be and have t been captured by way HCI has been constructed," it said. 

gap in data and methodology overlook initiatives taken by a country and, in turn, portray an incomplete and pre-determined picture, it said, ding this, in fact, makes case for option of index by more countries somewhat remote. 

" hasty introduction of HCI by World Bank may deny larger Human Capital Project its due despite lofty objectives of latter," it said. 

Singapore topped poll after it was highly rated for its universal health care system, education exams results and life expectancy figures, as per HCI released by World Bank. It is followed by South Korea, Japan, Hong Kong and Finland.