Full form of HDI

HDI stands for Human Development Index. It is a composite index that measures the average achievement of a country in three basic dimensions of human development. These dimensions are a long and healthy life, access to knowledge, and a decent standard of living. The United Nations Development Programme (UNDP) created this index in 1990. It is a widely used tool to measure a country's progress in terms of human development.

Dimensions of HDI

The three dimensions of HDI are as follows:

1. Health: This dimension measures a country's health status based on life expectancy at birth. A longer life expectancy is an indication of better health.

2. Education: This dimension measures a country's education status based on two factors. The first factor is the mean years of schooling that adults have received. The second factor is the expected years of schooling that children will receive.

3. Standard of living: This dimension measures a country's standard of living based on Gross National Income (GNI) per capita. GNI is the total income earned by a country's residents, including income earned abroad.

Calculation of HDI

The HDI value ranges from 0 to 1. A higher HDI value indicates higher human development. The formula to calculate HDI is as follows:

HDI = (Health Index + Education Index + Standard of Living Index) / 3

The Health Index is calculated by (Life Expectancy - 20) / 60, where 20 is the minimum life expectancy and 60 is the maximum life expectancy.

The Education Index is calculated by (2/3) * (Mean Years of Schooling Index) + (1/3) * (Expected Years of Schooling Index), where Mean Years of Schooling Index is the average number of years of education received by adults and Expected Years of Schooling Index is the number of years of schooling that a child is expected to receive.

The Standard of Living Index is calculated by (Natural Logarithm of GNI per capita - Natural Logarithm of $100) / (Natural Logarithm of $75,000 - Natural Logarithm of $100), where $100 is the minimum GNI per capita and $75,000 is the maximum GNI per capita.

Importance of HDI

HDI is an important tool to measure a country's progress in terms of human development. It helps policymakers to identify the areas where a country needs to improve. It also helps to compare the human development of different countries. HDI is widely used by international organizations, such as the United Nations, to monitor the progress of countries towards achieving the Sustainable Development Goals (SDGs).

Human Development Index. It use combination of development factors such as health, education,etc.