Financial Inclusion Index
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- Context:
- Recently, the Reserve Bank of India (RBI) has unveiled the first composite Financial Inclusion Index (FI-Index).
- The annual FI-Index for the financial year ended March 2021 crossed the halfway mark to 53.9, as compared to 43.4 for the year ended March 2017.
- About:
- The index has been conceptualised as a comprehensive index incorporating details of banking, investments, insurance, postal as well as the pension sector in consultation with the government and respective sectoral regulators.
- It will be published annually in July every year.
- It has been constructed without any ‘base year’ and as such it reflects cumulative efforts of all stakeholders over the years towards financial inclusion.
- Aim:
- To capture the extent of financial inclusion across the country.
- Parameters:
- It captures information on various aspects of financial inclusion in a single value ranging between 0 and 100, where 0 represents complete financial exclusion and 100 indicates full financial inclusion.
- It comprises three broad parameters (weights indicated in brackets) viz., Access (35%), Usage (45%), and Quality (20%) with each of these consisting of various dimensions, which are computed based on a number of indicators.
- The index is responsive to ease of access, availability and usage of services, and quality of services for all 97 indicators.
- Importance of FI Index:
- Measures Level of Inclusion: It provides information on the level of financial inclusion and measures financial services for use in internal policymaking.
- Development Indicators: It can be used directly as a composite measure in development indicators.
- Fulfil the G20 Indicators: It enables fulfilment of G20 Financial Inclusion Indicators requirements.
- The G20 indicators assess the state of financial inclusion and digital financial services, nationally and globally.
- Facilitate Researchers: It also facilitates researchers to study the impact of financial inclusion and other macroeconomic variables.
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North Eastern Region District SDG Index
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- Context:
- Recently, NITI Aayog has released the North Eastern Region District SDG Index and Dashboard 2021–22.
- What is North Eastern Region District SDG Index?
- It is the first edition of the SDG Index for the North East Region districts.
- It is developed by NITI Aayog and the Ministry of Development of the North Eastern Region (MDoNER).
- The technical support is provided by the United Nations Development Programme (UNDP).
- It is the first of its kind in the country as it focuses on the North Eastern Region, which is of critical significance to the country’s development trajectory.
- It measures the performance of the districts of the eight states of Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim and Tripura on the Sustainable Development Goals.
- It is based on NITI Aayog’s SDG India Index i.e. the principal and official tool for monitoring progress on the SDGs at the national and State/ Union Territory levels.
- It aims at delineating progress at the district level on a basket of indicators and enhancing analytical understanding of sectoral issues as well as data gaps.
- Districts have been classified based on their NER District SDG Index score:
- Aspirant: 0–49
- Performer: 50–64
- Front-Runner: 65–99
- Achiever: 100
- Significance of North Eastern Region District SDG Index:
- It offers insights into the social, economic, and environmental status of the region and its districts in their march towards achieving the SDGs.
- It is a unique policy tool that has immense potential to measure district-level progress, highlight critical gaps, and facilitate resource allocation.
- It will be a handy tool for policymakers in the eight North Eastern States, the Ministry of DoNER and other Union Ministries.
- It will help in evidence-based planning, resource allocation, both financial as well as others, and effective supervision and monitoring of the developmental efforts for focused and balanced regional development.
- It will contribute immensely to providing reliable and high-quality data to design initiatives to address inter-State and intra-State disparities and accelerate SDG achievements in the region.
- Key Highlights of NER SDG Index:
- Out of the 103 districts considered for the ranking, 64 districts belonged to the Front Runner category while 39 districts were in the Performer category in the composite score and ranking of districts.
- All districts in Sikkim and Tripura fall in the Front Runner category and there are no districts in the Aspirant or Achiever categories.
- East Sikkim (Score 75.87) ranks first in the region followed by districts Gomati and North Tripura (Score 75.73) in the second position.
- The score for the 103 districts ranges from 53.00 in Kiphire (NL) to 75.87 in East Sikkim (SK).
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Quality of Life for Elderly Index
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- Context:
- Recently, the Economic Advisory Council to the Prime Minister (EAC-PM) released the Quality of Life for Elderly Index.
- The share of elders, as a percentage of the total population in the country, is expected to increase from around 7.5% in 2001 to almost 12.5% by 2026, and surpass 19.5% by 2050.
- EAC-PM is a non-constitutional, non-statutory, independent body constituted to give advice on economic and related issues to the Government of India, specifically to the Prime Minister.
- About:
- The Index has been created by the Institute for Competitiveness at the request of EAC-PM and it sheds light on an issue often not mentioned- problems faced by the elderly.
- Institute for Competitiveness, India is an international initiative centered in India, dedicated to enlarging and purposeful disseminating of the body of research and knowledge on competition and strategy.
- It identifies the regional patterns of ageing across the Indian States and assesses the overall ageing situation in India.
- Ageing is a continuous, irreversible, universal process, which starts from conception till the death of an individual.
- However, the age at which one’s productive contribution declines and one tends to be economically dependent can probably be treated as the onset of the aged stage of life.
- National Elderly Policy defines people in the 60+ age group as elderly.
- It will promote healthy competition among States through fair rankings and highlights the pillars and indicators they can improve.
- Pillars & Sub-Pillars of the Index:
- Four Pillars:
- Financial Well-being, Social Well-being, Health System and Income Security
- Eight Sub-Pillars:
- Economic Empowerment, Educational Attainment & Employment, Social Status, Physical Security, Basic Health, Psychological Well being, Social Security and Enabling Environment.
- Major Findings:
- State-wise Rankings:
- Rajasthan and Himachal Pradesh are top-scoring regions in Aged and the Relatively Aged States, respectively.
- The Aged States refer to States with an elderly population of more than 5 million, whereas the Relatively Aged States refer to States with an Elderly population of less than 5 million.
- Chandigarh and Mizoram are top-scoring regions in Union Territory and North-East States category.
- Pillar-wise Performance:
- The Health System pillar observes the highest national average, 66.97 at an all-India level, followed by 62.34 in Social Well-being.
- Financial Well-being observes a score of 44.7, which is lowered by the low performance of 21 States across the Education Attainment & Employment pillar, which showcases scope for improvement.
- States have performed particularly worse in the Income Security pillar because over half of the States have a score below the national average in Income Security, which is the lowest across all pillars.
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CSE Transparency Index
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- About:
- In news, The Centre for Science and Environment (CSE), a Delhi-based non-profit, released the report ‘Transparency Index — Rating of Pollution Control Boards on Public Disclosure’.
- About CSE Transparency Index:
- There are 28 state pollution control boards (SPCB) and 6 pollution control committees (PCC) in the country that make pollution information public on websites.
- CSE has released a report/index to assess the level of transparency maintained by these SPCBs and PCCs.
- This report critically evaluates the information shared by SPCBs/PCCs during the last four-five years (2016–21) and uses several indicators that provide a broader indication of the type and amount of information shared.
- Key findings:
- Around 60% of the bodies scored less than 50% on the information disclosure parameters studied.
- Only 14 boards scored above 50% in the index.
- They are Odisha, Telangana, Tamil Nadu, Madhya Pradesh, West Bengal, Goa, Karnataka, Haryana, Chhattisgarh, Himachal Pradesh, Jammu and Kashmir, Kerala, Maharashtra, Uttarakhand, Punjab, Andhra Pradesh and Rajasthan.
- The index’s analysis cited that most agencies are not transparent enough with information in the public domain.
- Information on functioning, actions taken by boards against polluting industries, public hearing data on new projects etc are rarely disclosed or are not even available on public websites.
- TOP PERFORMERS:
- Pollution control boards of Odisha and Telangana (67%).
- Tamil Nadu ranked a close second with 65.5% transparency,
- Madhya Pradesh ranked third (64%)
- West Bengal ranked fourth (62%)
- Goa ranked fifth (60.6%).
- Only five boards including Haryana have shared minutes of their board meetings on their websites.
- Only five SPCBs including Himachal Pradesh have shared information on inspections conducted by the boards.
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