Скачать или смотреть Significance of Human Development Index (HDI) | Economics | TY. BCom Sem 5 | VNSGU

Significance of Human Development Index:

1. The human developmental index is 'multi-dimensional' rather than 'one-dimensional', because besides income the concept also takes into account other indexes like education and health.

2. The index focusses the attention of the policy makers as to the ultimate objective of development which is not just economic development alone but also human development. It brings home the fact that economic development is a means while human development is the end.

3. The concept is more meaningful than the concept of gross national product because, there are very wide variations in income distribution than in life expectancy or literacy.

4. An upward trend in human development index is considered as a more positive indicator of improvement in the general living conditions of the people.

5. While higher incomes accruing to some in the society may cause relative deprivation to others, this is not so in the case of human development, because improvement in health and education of any one benefits the entire society.

6. With the help of human development index, the underdeveloped and the developing countries can know as to how far they are lagging behind the developed nations.

7. The concept is dynamic in nature because with the change in the source of information or a change in the value of any of the three components, human development index also undergoes a change and this gives an idea to the policy makers as to the correctness or otherwise of the direction of development.

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