Title: An analytical study of HDI among India and its adjoining nations with reference to the relationship of literacy rate

Authors: Sugandha Agarwal; Deepa Gupta

Addresses: Dr. A P J Abdul Kalam University, India ' GL Bajaj Institute of Management and Research, Greater Noida, India

Abstract: Economic growth is consistently a concern for any country. GDP growth and per capita income is a vital indicator on economic growth. These pointers portray the increase or decrease in productivity and income of the economy. Humans are an important part of productivity, but human welfare, equity, and social justice are not recorded. Economic advancement cannot be measured through GDP contribution, as it overlooks the disparity of income, poverty, unemployment, and other issues in the economy. The concept of the human development index proposed by Mahbub-ul-Haq and later refined by UNDP provides the correct parameter for evaluating economic development. This paper endeavours to comprehend the pattern of HDI among Indian and its adjoining nations and to check the contribution of each parameter in calculating the HDI of any country. The impact of the literacy rate on the HDI rate is also studied in the paper.

Keywords: economic growth; GDP; economic development; literacy rate; HDI.

DOI: 10.1504/IJICBM.2023.128489

International Journal of Indian Culture and Business Management, 2023 Vol.28 No.1, pp.85 - 100

Received: 09 Jun 2021
Accepted: 23 Aug 2021
Published online: 24 Jan 2023 *