Current Affairs search results for: "world economic report"
By admin: July 1, 2024

1. India Ranks 72nd in IMF's Global AI Preparedness Index

Tags: INDEX

The International Monetary Fund (IMF) introduced the Artificial Intelligence Preparedness Index (AIPI) Dashboard on June 25, 2024.

An Overview of the News

  • The index ranks 174 Countries worldwide based on their preparedness for adopting artificial intelligence (AI).

  • India ranks 72nd with a score of 0.49, categorized as an Emerging Market (EM).

  • Bangladesh ranks 113th (0.38), Sri Lanka 92nd (0.43), and China 31st (0.63).

  • Rating Criteria: Ratings are based on digital infrastructure, human capital, labor policies, innovation, integration, and regulation.

Top Countries in the AI Preparedness Index

  • Singapore ranks 1st with an index of 0.800.

  • Denmark follows closely in 2nd place with an index of 0.778.

  • The United States secures the 3rd position with an index of 0.771.

  • Netherlands stands 4th with an index of 0.766.

  • Estonia, Finland and Switzerland are ranked 5th with an index of 0.754.

  • New Zealand and Germany are ranked 6th with an index of 0.753.

  • Sweden is ranked 7th with an index of 0.747

Impact and Job Displacement

  • Job Displacement: AI is projected to potentially disrupt 33% of jobs in advanced economies, 24% in emerging economies, and 18% in low-income countries.

  • Economic Reshaping: Economist Giovanni Melina highlights AI's potential to enhance job productivity and create new industries globally.

International Monetary Fund (IMF):

  • Establishment: 1944 (Formally came into existence in December 1945)

  • Members: 190 (India joined the IMF on December 27, 1945)

  • Headquarters: Washington DC

Important Points 

  • India Ranked 63rd in the Global Energy Transition Index 2024 

  • India Ranked 3rd in the Global Unicorn Index 2024

  • India Ranked 159th in the World Press Freedom Index 2024

  • India Ranked 129th in the Global Gender Gap Index 2024

  • India Ranked 39th in WEF's Travel and Tourism Development Index 2024

  • India Ranked 126th in the World Happiness Report 2024

By admin: June 29, 2024

2. National Statistics Day - 29 June 2024

Tags: Important Days

National Statistics Day is observed annually on 29 June to honour the contribution of Professor Prasanta Chandra Mahalanobis in statistics and economic planning.

An Overview of the News

  • Professor Mahalanobis, known as the 'Father of Indian Statistics', developed the Mahalanobis distance, a statistical measure to assess the difference between a point and a distribution.

  • Purpose: To create public awareness on the role and importance of statistics in socio-economic planning and policy formulation for India's development.

  • Designation: Recognized as a "Special Day" by the Government of India.

Statistics Day 2024

  • Theme:"Use of data for decision-making"

  • Significance: Highlights the importance of data-driven decision making for informed decisions and evidence-based policy formulation.

Main Event Details

  • Location: Manekshaw Centre, Delhi Cantt, New Delhi

  • Chief Guest: Dr. Arvind Panagariya, Chairman, 16th Finance Commission

  • Key Speakers:

    • Prof. Rajeeva Laxman Karandikar, Chairman, National Statistical Commission (NSC)

    • Dr. Saurabh Garg, Secretary, MoSPI

  • Participants: Senior officers from Central Ministries/Departments, State/UT Governments, representatives of international organizations (World Bank, UN agencies), and other stakeholders.

  • Webcast/Live Stream: The programme was web-casted/live streamed through the social media handles of the Ministry.

Key Highlights

  • Essay Writing Competition: Winners of the ‘On the Spot Essay Writing Competition, 2024’ for Postgraduate Students were felicitated.

  • Report Releases:

    • Sustainable Development Goals - National Indicator Framework Progress Report, 2024

    • Data Snapshot on Sustainable Development Goals - National Indicator Framework, 2024

    • Sustainable Development Goals - National Indicator Framework, 2024

  • Portal Launch: e-Statistics Portal and Central Data Repository for Official Statistics containing time series data of important macro indicators and data asset catalogue of the Ministry were launched.

History of National Statistics Day

  • The Government of India designated 29 June as National Statistics Day on 5 June 2007.

  • The designation was given to acknowledge the significant contributions of Prasanta Chandra Mahalanobis in the field of statistics and economic planning.

  • The first celebration of National Statistics Day took place on 29 June 2007.

  • Prasanta Chandra Mahalanobis was a prominent figure who played a key role in the first Planning Commission of India.

  • He was instrumental in the establishment of the Indian Statistical Institute (ISI) in 1931.

  • The day is celebrated as a tribute to Prasanta Chandra Mahalanobis and his remarkable contribution in the field of statistics.

About Indian Statistical Institute

  • Director - Prof. Sanghamitra Bandyopadhyay

  • Headquarters - Kolkata

  • Establishment - 17 December 1931

By admin: June 24, 2024

3. Bilan Media ,Somalia's First and only All-Women News Team Wins 2024 One World Media Press Freedom Award

Tags: Awards

Bilan Media, Somalia's pioneering all-women news team, received the prestigious 2024 One World Media Press Freedom Award.

An Overview of the News

  • This marks the first time a Somali media organization has been honored with this accolade.

  • The award acknowledges Bilan's fearless journalism over the past two years, which has tackled sensitive topics and empowered female journalists in Somalia.

About Bilan Media

  • Established in 2021 by the United Nations Development Programme (UNDP), Bilan Media has been supported by the European Union (EU) through UNDP funding since 2024.

  • It operates under the auspices of the Dalsan Media Group from its headquarters in Mogadishu, Somalia.

  • The team, comprising solely women, operates with complete editorial independence.

  • Journalistic Impact: Bilan Media has covered a wide array of critical issues, including the plight of albino communities and the abuse of female orphans, shedding light on otherwise marginalized topics.

One World Media Press Freedom Award

  • The award, formerly known as the Special Award, honors independent media organizations from the global south that utilize media to address social, cultural, political, and economic challenges.

  • It celebrates exceptional reporting that informs the public, amplifies local voices, facilitates critical information dissemination, and holds authority figures accountable.

Climate and Labour Film Grant

  • Grant Launch: At the ceremony, Vivienne Francis, Director of One World Media, announced a new grant initiative.

  • Purpose: The grant, valued at up to £20,000, aims to fund a documentary produced by a filmmaker from the global south.

  • Theme: The documentary will focus on the impacts of climate change on people's lives and labor.

  • Partnership: This initiative is a collaboration between One World Media, the Financial Times (FT), and the Pulitzer Center.

  • Project Requirements: The film should be 25 minutes or less and must be completed by June 2025.

By admin: June 22, 2024

4. WEF 2024 Report: Sweden Leads, India Ranked 63rd on Global Energy Transition Index

Tags: Reports INDEX

The World Economic Forum (WEF), in collaboration with Accenture, published its annual report titled "Fostering Effective Energy Transition 2024" on 19th June 2024.

An Overview of the News

  • According to the report, India has achieved the 63rd position on the global Energy Transition Index (ETI) 2024.

  • The report highlights that India has climbed 3 places from its 2023 rank of 67th, driven by notable enhancements in energy equity, security, and sustainability domains.

Top Countries on ETI 2024:

  • Sweden secured 1st place with an ETI score of 78.4.

  • Denmark followed at 2nd place with a score of 75.2.

  • Finland ranked 3rd with a score of 74.5.

Fastest Improving Countries (Last 5 Years):

  • Estonia, Ethiopia, and Lebanon identified as countries showing significant improvement.

About WEF:

  • Established: 1971

  • Founder: Prof. Klaus Schwab

  • Headquarters: Cologny, Geneva Canton, Switzerland

  • Managing Director: Saadia Zahidi

Important Points 

  • India ranked 3rd in Global Unicorn Index 2024
  • India ranked 159th in World Press Freedom Index 2024
  • India ranked 129th in Global Gender Gap Index 2024
  • India ranked 39th in WEF's Travel and Tourism Development Index 2024
  • India ranked 126th in World Happiness Report 2024

By admin: June 11, 2024

5. India ranked 129th in Global Gender Gap Index

Tags: Reports INDEX

India has slipped two places to the 129th position in the Global Gender Gap Index.

An Overview of the News

  • Among South Asian countries, India ranks fifth, behind Bangladesh, Nepal, Sri Lanka, and Bhutan, with Pakistan ranked last.

  • India demonstrates notable gender parity in secondary education enrollment and political empowerment.

  • India secures the 10th position for the number of years with female/male heads of state in the last 50 years.

  • However, India's overall gender gap closure has slightly declined to 64.1% in 2024 from 64.2% last year.

Top 10: The Global Gender Gap Index 2024 rankings

  1. Iceland

  2. Finland

  3. Norway

  4. New Zealand

  5. Sweden

  6. Nicaragua

  7. Germany

  8. Namibia

  9. Ireland

  10. Spain

Bottom 5: The Global Gender Gap Index 2024 rankings

  1. Sudan 146 Rank

  2. Pakistan 145 Rank

  3. Chad 144 Rank

  4. Iran (Islamic Republic of) 143 Rank

  5. Guinea 142 Rank

About Global Gender Gap Report

  • The Global Gender Gap Report, initiated by the World Economic Forum in 2006, evaluates gender equality worldwide.

  • It measures how resources and opportunities are distributed among men and women within countries.

  • The report aims to raise awareness and foster dialogue among policymakers by highlighting role model countries in equitable resource allocation.

  • According to the 2023 report, it will take 131 years to close the global gender gap.

By admin: May 22, 2024

6. India has moved up to the 39th spot in the WEF's Travel & Tourism Development Index.

Tags: INDEX

India has ascended to the 39th position in the World Economic Forum’s Travel & Tourism Development Index for 2024, marking a notable improvement from its previous ranking of 54th in 2021.

An Overview of the News

  • This advancement places India at the top in South Asia among the lower-middle-income economies.

  • The United States secured the top spot in the index.

  • India achieved a score of 4.25 out of 7 on the overall index, where 1 represents the lowest and 7 the highest.

  • The significant rise in India's ranking highlights its increasing competitiveness in the global tourism sector.

  • The biennial index evaluated the travel and tourism sectors of 119 countries, assessing various factors and policies contributing to tourism development.

2024 Travel and Tourism Development Index: 

Top Five Countries

  1. The United States of America leads the rankings with a score of 5.24 in the 2024 Travel and Tourism Development Index.

  2. Spain follows closely behind with a score of 5.18.

  3. Japan secures the third position with a score of 5.09.

  4. France holds the fourth spot with a score of 5.07.

  5. Australia rounds up the top five with a score of 5.00.

Bottom Ranked countries

  • Mali ranks at the bottom of the list, securing a score of 2.78.

  • Sierra Leone follows closely behind, ranking second from the bottom with a score of 2.9.

Travel and Tourism Development Index 2024

  • The Travel and Tourism Development Index is a biennial report issued by the World Economic Forum (WEF), replacing the previous Travel & Tourism Competitiveness Index (TTCI) which was published biennially since 2007.

  • It assesses and benchmarks the factors and policies facilitating sustainable and resilient development within the travel and tourism sector, contributing to a country's overall development.

  • The 2024 Index was developed in partnership with the University of Surrey, England.

  • This edition ranks 119 countries based on their performance in fostering the development of the travel and tourism industry.

About WEF

  • The World Economic Forum (WEF) is a non-profit international think tank established by Klaus Schwab of Germany in 1971 with the aim of promoting Public-Private Cooperation.

  • It serves as a platform facilitating collaboration among government entities, non-governmental organizations, businesses, academics, and other stakeholders.

  • The primary goal of the WEF is to address global challenges by fostering dialogue and finding shared solutions.

  • The headquarters of the WEF is located in Cologny, Switzerland.

By admin: Aug. 26, 2023

7. G20 Culture Ministers' meeting begins in Varanasi

Tags: Summits

The G20 Culture Ministers' meeting began on 26 August in Varanasi.

An Overview of the News

  • The event represents the culmination of India's G20 Culture Working Group (CWG) meetings and discussions.

  • A comprehensive report summarizing the insights and recommendations of the webinar 'G20 Culture: Shaping the Global Narrative for Inclusive Growth' will be unveiled during the meeting.

  • A special stamp will be issued to commemorate the 'Culture Unites All' campaign, an important initiative under India's G20 Presidency CWG.

Union Culture Minister - G Kishan Reddy

Minister of State for Culture - Meenakshi Lekhi

About the G20

  • It is an international forum of the world's leading economies established in 1999.

  • Its primary objective is to promote international financial stability and sustainable economic growth.

  • The G20 serves as a forum to discuss and coordinate policies related to a wide range of economic and financial issues such as trade, investment, employment, energy and climate change.

By admin: July 3, 2023

8. India ranks 67th on WEF's Energy Transition Index

Tags: Reports

On 28 June, the World Economic Forum (WEF) published a report titled 'Fostering Effective Energy Transition 2023' which ranked 120 countries on the basis of energy transition.

An Overview of the news:

India in ETI Report:

  • In this ranking, WEF has placed India at 67th position (a jump of 20 places) globally in the Energy Transition Index (ETI). Because in the year 2021, India was at 87th position among 115 countries.
  • According to WEF, India is the only major economy where the pace of energy transition is accelerating in all dimensions.
  • Despite sustained economic growth, India has successfully reduced the energy intensity of its economy and the carbon intensity of its energy mix, achieved universal energy access and managed electricity affordability effectively.
  • The ETI benchmarks countries based on the performance of their energy systems and their readiness to secure sustainable energy systems.
  • In a report published in collaboration with Accenture, the WEF noted that the global energy transition has stagnated amid the global energy crisis and geopolitical instability, but India is among the countries that have made significant improvements in the energy transition.
  • According to ETI the top five countries in the world are Sweden, Denmark, Norway, Finland and Switzerland respectively.

World Economic Forum (WEF):

  • Establishment : 1971 in Geneva (Switzerland)
  • Headquarters: Cologny, Switzerland
  • Founder : Klaus Schwab
  • Chairman : Borge Brende

Major reports published by WEF:

  • Global Gender Gap Report
  • Energy Transition Index (published jointly by Accenture and WEF).
  • Global Competitiveness Report
  • Global Risk Report
  • Global Travel & Tourism Report
  • Global Information Technology Report (The report is published by WEF in association with INSEAD and Cornell University).

By admin: June 24, 2023

9. Global Gender Gap Index 2023

Tags: INDEX

Global-Gender-Gap-Index-2023India ranks 127 out of 146 countries in the Global Gender Gap Index 2023.

An Overview of the News

  • The Global Gender Gap Index was established in 2006 and this is its 17th edition.

  • It is published annually by the World Economic Forum (WEF).

  • It measures gender equality in 146 countries and enables cross-country analysis.

Global Gender Gap Score:

  • The global gender gap score for 2023 is 68.4%, showing an improvement of 0.3 percentage points from last year.

  • None of the countries included in the index have achieved full gender equality.

  • The top 9 countries including Iceland, Norway, Finland and New Zealand have reduced the gender gap by 80%.

Iceland: The most gender-equal country:

  • Iceland has been ranked first as the most gender-equal country in the world for the 14th consecutive year with a score of 91.2%.

  • Iceland is the only country that has reduced the gender gap by more than 90%.

Progress of South Asia:

  • In South Asia, the gender gap score has increased by 1.1 percentage points since the last edition.

  • Among India's neighbouring countries, Pakistan is at 142, Bangladesh at 59, China at 107, Nepal at 116, Sri Lanka at 115 and Bhutan at 103.

India's ranking and progress:

  • India has moved up 8 places to rank 127 out of 146 countries in the 2023 Global Gender Gap Index.

  • India has shown an improvement of 1.4 percentage points from the 2022 figures.

  • Education and Economic Participation:

    • India has achieved parity in enrollment at all levels of education, reducing the overall gender gap by 64.3%.

    • However, India has reached only 36.7% equality in economic participation.

    • India was ranked 135 in the 2022 edition.

  • Representation in senior positions and technical roles:

    • Despite increases in pay and income equality, the representation of women in senior positions and technical roles in India has decreased slightly since the last edition.

  • Political Empowerment:

    • India recorded 25.3% equality in terms of political empowerment.

    • Women represent 15.1% of parliamentarians, the highest figure for the country since 2006.

  • Women's representation in local government:

    • Of the 117 countries with available data from 2017, 18 have achieved more than 40% female representation in local governance, including Bolivia, India and France.

  • Improvement in sex ratio at birth:

    • The report highlights India's progress with an improvement in the sex ratio at birth by 1.9 percentage points, bringing equality after a decade of slow progress.

Global Gender Gap Index 2023 Ranking

1. Iceland - 0.912

2. Norway - 0.879

3. Finland - 0.863

4. New Zealand - 0.856

5. Sweden - 0.815

6. Germany - 0.815

7. Nicaragua - 0.811

8. Namibia - 0.802

9. Lithuania - 0.800

10. Belgium - 0.796

By admin: June 10, 2023

10. 'Har Ghar Jal' Program highlights significant impact on Public Health - WHO report

Tags: Reports National News

 World Health Organization (WHO) A recently released report by the World Health Organization (WHO) has highlighted the significant impacts of the 'Har Ghar Jal' program on public health and economic savings.

An overview of the news

  • Dr Richard Johnston and Dr Sophie Boisson of the WHO South East Asia presented the report titled ‘Health impact of Jal Jeevan Mission’.

Highlight of the report

  • The report pointed out that nearly four lakh diarrheal deaths could be prevented by ensuring safely managed drinking water for all households in the country.

  • Nearly 14 million disability-adjusted life years (DALYs) related to these diseases could be prevented.

  • This achievement alone will result in estimated cost savings of up to US$101 billion.

  • This report focuses on diarrheal diseases as water-borne diseases are a major reason for this.

  • The report shows that in 2018, 36 per cent of India's total population did not have access to improved drinking water sources in their premises.

  • Direct use of unsafe drinking water has serious health and social consequences.

  • The analysis indicates that in 2019, unsafe drinking water, along with inadequate sanitation and hygiene, contributed to 1.4 million deaths and 74 million DALYs globally.

'Har Ghar Jal' Program

  • Launched - By Prime Minister Narendra Modi on August 15, 2019

  • Implementation - By the Jal Jeevan Mission under the Ministry of Jal Shakti

  • Aims - To provide every rural household with affordable and regular access to an adequate supply of safe drinking water through taps. 

  • SDG 6.1 - Ensuring universal access to safe and affordable drinking water 

  • Achievement - 5 states (Goa, Telangana, Haryana, Gujarat and Punjab) and 3 union territories (Puducherry, Daman and Diu and Dadra and Nagar Haveli) have reported 100% tap water coverage.