16-Jan-2023: World Economic Forum (WEF) releases the 18th Edition of Global Risks Report 2023

Published by World Economic Forum (WEF) ahead of its flagship Davos 2023 Meeting

Title of the Meeting: Cooperation in a Fragmented World

Most severe risks:

  • Failure to Mitigate Climate Change
  • Failure of Climate Change Adaptation
  • Natural Disasters and Extreme Weather Events
  • Biodiversity Loss and Ecosystem Collapse

Atmospheric levels of carbon dioxide, methane and nitrous oxide at record highs. Unlikely to achieve global ambitions to limit warming to 1.5°C. Biodiversity loss and ecosystem collapse ranked 4th most severe risk in the long term.

Growing demands on public- and private-sector resources from socio-economic short-term crises attributed to geopolitical tensions may reduce the speed and scale of mitigation efforts over the next two years. European Union spent at least 50 billion euros on new and expanded fossil-fuel infrastructure and supplies. Some countries restarted coal power stations.

Interconnections between biodiversity loss, pollution, natural resource consumption, climate change, and socioeconomic drivers will make for a dangerous mix. Cost of living ranks as the top most serious global risk in the short term.

70% of the respondents in the WEF report said existing measures to prevent or prepare for climate change have been “ineffective” or “highly ineffective”.

Global risk is defined as the possibility of the occurrence of an event or condition that would negatively impact a significant proportion of global gross domestic product, population or natural resources.

World Economic Forum (WEF)

The WEF is a Swiss nonprofit foundation established in 1971 based in Geneva, Switzerland.

WEF is recognized by Swiss authorities as the international institution for public-private cooperation.

WEF is committed to improving the state of the world by engaging business, political, academic, and other leaders of society to shape global, regional, and industry agendas.

Founder and Executive Chairman: Klaus Schwab

Major reports published by WEF:

  • Energy Transition Index
  • Global Competitiveness Report
  • Global IT Report
  • Global Gender Gap Report
  • Global Travel and Tourism Report

20-Dec-2022: Food Processing Sector Contribution in GDP

The Gross Value Addition (GVA) in food processing sector has increased from Rs. 1.79 lakh crore in 2016-17 to Rs.2.37 lakh crore in 2020-21 at a Compounded Annual Growth Rate (CAGR) of 7.27 %. The GVA for the last three years and recent year 2020-21 were as under:

(Rs. in lakh crore)

 

2017-18

2018-19

2019-20

2020-21

Gross Value Added

1.93

2.36

2.26

2.37

No target is set for the food processing sector for creating employment opportunities and increasing its contribution in GDP. However, the food processing sector contributes 12.2% of employment in the registered manufacturing sector. Various schemes and policy initiatives being implemented by the Ministry results in increased contribution of the sector to India’s GVA. The Ministry of Food Processing Industries implements the Pradhan Mantri Kisan SAMPADA Yojana (PMKSY) which inter–alia aims at creation of modern post-harvest infrastructure, boosting value addition, providing better returns to farmers, creation of employment opportunities etc. In addition, the Ministry is also implementing the PM-Formalization of Micro Food Processing Enterprises (PMFME) Scheme for providing financial, technical and business support for setting up/upgradation of two lakh micro food processing enterprises across the country. A new Production Linked Incentive scheme (PLIS) for Food Processing Sector is being implemented to support creation of global food manufacturing champions. This scheme will also create more employment opportunities and higher exports for the sector.

1-Feb-2020:  GDP revised downwards for 2018-19

The National Statistics Office’s (NSO) revised estimates for economic growth. The NSO, under the Statistics and Programme Implementation Ministry, releases revised estimates of national income, consumption expenditure, saving and capital Formation, as more accurate data comes in overtime.

2018-2019: The revised estimates have pegged actual GDP growth in 2018-19 at 6.1% instead of the 6.8% provisional estimates of May 2019. The NSO has attributed the downward revision to a reduction in numbers from the primary sector (farm- and mining-related activity) and the secondary sector (manufacturing, utilities, and construction). Manufacturing growth has seen a downward revision from 7.5% to 6%. By contrast, the services sector GVA growth was revised upward from 7.5% to 7.7% for the same year.

2017-2018: Similarly, the Real GDP or GDP at constant (2011-12) prices growth rate for the year 2017-18 has observed a downward revision from the first estimate of 7.2% to the present 7%.

2016-2017: The GDP growth rate for 2016-17, the year when demonetization of high-value currency notes was undertaken, has been raised from 8.2% to 8.3%. The 8.2% growth rate was based on a second revised estimate released in January 2019, which marked a significant hike from the first estimate of 7.1% growth.

20-Dec-2022: Social Progress Index (SPI) for States and Districts received by EAC-PM, released

Social Progress Index (SPI) for States and Districts made by the Institute for Competitiveness and Social Progress Imperative was submitted to Economic Advisory Council- Prime Minister and released today.

SPI is a comprehensive tool that can serve as a holistic measure of a country's social progress at the national and sub-national levels. The index assesses states and districts based on 12 components across three critical dimensions of social progress - Basic Human Needs, Foundations of Wellbeing, and Opportunity. The index uses an extensive framework comprising 89 indicators at the state level and 49 at the district level.

  • Basic Human Needs assess the performance of states and districts in terms of Nutrition and Basic Medical Care, Water and Sanitation, Personal Safety and Shelter.
  • Foundations of Wellbeing 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.
  • Opportunity focuses on Personal Rights, Personal Freedom and Choice, Inclusiveness, and Access to Advanced Education.

Based on the SPI scores, states and districts have been ranked under six tiers of social progress. The tiers are Tier 1: Very High Social Progress; Tier 2: High Social Progress; Tier 3: Upper Middle Social Progress; Tier 4: Lower Middle Social Progress; Tier 5: Low Social Progress; and Tier 6: Very Low Social Progress.

Puducherry has the highest SPI score of 65.99 in the country, attributable to its remarkable performance across components like Personal Freedom and Choice, Shelter, and Water and Sanitation. Lakshadweep and Goa closely follow it with scores of 65.89 and 65.53, respectively. Jharkhand and Bihar scored the lowest, 43.95 and 44.47, respectively.

For the dimension of Basic Human Needs, Goa, Puducherry, Lakshadweep, and Chandigarh are the top four states with the best performance in Water and Sanitation and Shelter as compared to the other states and union territories. In addition, Goa has the highest component score for Water and Sanitation, followed by Kerala, scoring the highest across the Nutrition and Basic Medical Care component. For Shelter and Personal Safety, Chandigarh and Nagaland have emerged as the front-runners, respectively.

Mizoram, Himachal Pradesh, Ladakh, and Goa have emerged as the best-performing states for the Foundations of Wellbeing. Within the dimension for the Access to Basic Knowledge component, Punjab has the highest component score of 62.92, while Delhi has topped the list for Access to Information and Communication with a score of 71.30. For Health and Wellness, Rajasthan has the highest component score of 73.74. For Environmental Quality, the top three states belong to the northeast region, namely, Mizoram, Nagaland, and Meghalaya.

Lastly, Tamil Nadu has achieved the highest component score of 72.00 for the Opportunity dimension. Within this dimension, Andaman and Nicobar Islands have the highest component score for Personal Rights, while Sikkim has topped the list for Inclusiveness. It is commendable to witness Puducherry attaining the highest scores across two components in this dimension, i.e., Personal Freedom and Choice and Access to Advanced Education.

Tier-I: Very High Social Progress

 State

SPI

Rank

Puducherry

65.99

1

Lakshadweep

65.89

2

Goa

65.53

3

Sikkim

65.10

4

Mizoram

64.19

5

Tamil Nadu

63.33

6

Himachal Pradesh

63.28

7

Chandigarh

62.37

8

Kerala

62.05

9

Tier-II: High Social Progress

 State

SPI

Rank

Jammu and Kashmir

60.76

10

Punjab

60.23

11

Dadra & Nagar Haveli and Daman & Diu

59.81

12

Ladakh

59.53

13

Nagaland

59.24

14

Andaman and Nicobar Islands

58.76

15

Tier-III: Upper Middle Social Progress

 State

SPI

Rank

Uttarakhand

58.26

16

Karnataka

56.77

17

Arunachal Pradesh

56.56

18

Delhi

56.28

19

Manipur

56.27

20

Tier-IV: Lower Middle Social Progress

 State

SPI

Rank

Haryana

54.15

21

Gujarat

53.81

22

Andhra Pradesh

53.60

23

Meghalaya

53.22

24

West Bengal

53.13

25

Telangana

52.11

26

Tripura

51.70

27

Chhattisgarh

51.36

28

Maharashtra

50.86

29

Rajasthan

50.69

30

Tier-V: Low Social Progress

 State

SPI

Rank

Uttar Pradesh

49.16

31

Odisha

48.19

32

Madhya Pradesh

48.11

33

Tier-VI: Very Low Social Progress

 State

SPI

Rank

Assam

44.92

34

Bihar

44.47

35

Jharkhand

43.95

36

By evaluating change in the performance of some key indicators since 2015-16, the report presents a broad picture of the social progress in India. In addition, the report highlights progress made by the 112 aspirational districts in the country, helping them track their social progress journey and understand the areas that require more attention.

The findings in the report are based on a robust methodology and in-depth research and analysis, paving the way for policymakers to take informed decisions in the years to come. It also marks the start of the next phase in the social progress journey and hopes to advance the cause of social progress in the country.

In his opening remarks, Dr Amit Kapoor, Honorary Chairman, Institute for Competitiveness and Lecturer, Stanford University, explained, ‘The Social Progress Index report is an independent body of  work where the focus has been on three pillars of social progress – Basic Human Needs, Foundations of Well-being and Opportunity. There has not been an index that looked at social parameters with such depth and analysis in the Indian context. The next step is to do a longitudinal assessment of these indicators to study the changes over time and the effects of those changes.”

The index has contributions from Michael Green, CEO of the Social Progress Index, who stated, “The Social Progress Index report unleashes the power of benchmarking and offers a tool that is relevant to governments at the national and state levels to create scalable and practical actions to deliver to the people of India. It can act as a common language for the government, businesses and civil society to work towards bringing inclusive growth by focusing on economic and social progress alongside.”

The interactive online platform can be accessed from:

State Level Social Progress Index:  https://eacpm.gov.in/state-level-social-progress-index/

District Level Social Progress Index:  https://eacpm.gov.in/district-level-social-progress-index/

EAC-PM Chairman Bibek Debroy while releasing the report, said, “The report is based extensively on objective data and is primarily a normative/prescriptive exercise. It presents a cross-section of data across states and districts and the focus is on looking at various tiers of development by grouping the states rather than the individual rankings of the selected states and districts.”

Prof. Sonalde Desai, Professor, NACER lauded the report, “It is an excellent diagnostic tool for the state and district administrators to study the areas that need improvement. There is no better compendium than this report, at the moment, that offers such a diagnosis. The most interesting part of the report is the diversity among the districts and I would encourage you to compile a rank list of heterogeneity among the states”

Sanjeev Sanyal, Member EAC-PM, remarked, “ GDP is an incomplete measure of progress, though not inaccurate. Endeavours such as the Social Progress Index that study social parameters, the methodologies and analysis of the data can be made more robust and reliable.”

Dr. Charan Singh, CEO EGROW Foundation, also commented, “We will have to weave in sociological factors into economic progress given that purely economic indicators have time and again failed to capture non-economic issues. Singular focus on GDP is problematic.”

The report was released by Dr. Bibek Debroy, Chairman, EAC – PM on December 20, 2022 in the presence of Dr. Amit Kapoor, Honorary Chairman Institute for Competitiveness, Michael Green, CEO Social Progress Imperative and other dignitaries at National Nehru Memorial Museum, (Seminar Room), Teen Murti House, New Delhi.