HDI stands for ____.

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Detailed Solution

The full form of HDI is the Human Development Index.
Since 1990, UNDP has calculated the Human Development Index every year to compare the economic development of developed and developing countries. It is a composite index of three social indicators: life expectancy, educational attainment, and standard of living. It was developed by Pakistani economist Mahbub ul Haq and Indian economist Amartya Sen in 1990.
Of 187 countries, India ranks 130 in terms of HDI with a value of 0.609.
Importance:
1)      It helps calculate the nation's overall economic development.
2)      It shows the performance of every nation.
3)      Ranks are allotted to the countries based on their performance by UNDP. A higher rank is allotted to that country that performed well. Likewise, countries with low performance ranked with the lowest rank.

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