Nepal has proved 2017 as remarkable achievement year, since the government has to pass through different tough phases on the past years. World Economic Forum (WEF) has published their annual report of Inclusive Development Index (IDI), indexing Nepal as 22nd among 74 emerging economies of the world and leading the South Asian countries. WEF is an independent committee that evaluates IDI on the basis of engagement on business, political, academic and other leaders of society to shape global, regional and industry agendas.
Nepal’s sore is upgraded by surplus 5 points this year, since Nepal ranked in 127th position last year. IDI evaluated 103 nations in terms of two economic groups — advanced economies and emerging economies. The assessment is made annually. Growth and Development, Inclusion, and Equity sustainable stewardship of natural and financial resources are three important components of IDI.
Among South Asian countries, Afghanistan, Bhutan and Maldives were not included in IDI list. India is at 62nd position dropping down two spots while Bangladesh, Sri Lanka, Pakistan and China are ranked 34th, 40th, 47th and 26th respectively. The Index has measured the performance of the countries on the basis of eleven dimensions of economic progress in addition to GDP.
Lithuania is at the top of the emerging economies’ chart in IDI this year with 4.86 IDI score, followed by Hungary, Azerbaijan, Latvia and Poland. Norway is at the top spot as the world’s most advanced economy obtaining 6.08 IDI mark. The other four top advanced economies are Iceland, Luxembourg, Switzerland and Denmark.
The Inclusive Development Index is based on a set of Key Performance Indicators that provide a multidimensional assessment of living standards. The index ranks countries according to their current level of inclusive development, and also provides a view on recent performance over 5 years.