BRICS Current Affairs

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One Million Dollar Fund Established for BRICS Media

The Brazil-Russia-India-China-South Africa (BRICS) grouping has established a one million dollar fund for boosting media cooperation in the five-nation grouping. During the inaugural session of the BRICS Media Forum  held in Beijing, Xinhua News Agency and executive president of the Forum had announced that the Xinhua news agency will invest  one million U.S. dollars for bolstering BRICS media.

Salient Highlights

The BRICS media forum is a joint initiative of Xinhua News Agency, Brazil’s CMA Group, Russia’s Sputnik News Agency and Radio, The Hindu group of publications from India, and South Africa’s Independent Media.

BRICS Media is aimed at promoting six objectives including balanced reporting. It aims to create an alternative media narrative distinct from the media of western nations. The proposal is also aimed at joint development of BRICS digital media, financial information services and promoting people- to-people contacts.

BRICS

BRICS is the acronym for an association of five major emerging national economies: Brazil, Russia, India, China and South Africa. It was established in 2009. The BRIC [Brazil, Russia, India and China] idea was first conceived by Jim O’Neill of Goldman Sachs. In 2011, South Africa joined this informal group and BRIC became BRICS.

So far, eight BRICS summits have taken place. The first formal summit was held in Yekaterinburg, Russia. The BRICS members are all developing or newly industrialised countries and all five are G-20 members. They are distinguished by their large, fast-growing economies and significant influence on regional and global affairs.

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India ranks 131 in 2016 Human Development Index

India was ranked 131 in the 2016 Human Development Index (HDI) among the 188 countries.  India scored 0.624 and was placed in medium human development category.

The index was unveiled recently as part of the Human Development Report (HDR) 2016 titled Human Development for Everyone published by the United Nations Development Programme (UNDP). 

Key Highlights of 2016 HDR
  • Top three countries: Norway (0.949 score), Australia (0.939) and Switzerland (0.939).
  • SAARC countries: Sri Lanka (73) and Maldives (105) were placed in “high human development” category, followed by India (131), Bhutan (132), Bangladesh (139), Nepal (144), Pakistan (147) and Afghanistan (169).
  • BRICS Countries: India ranks lowest among BRICS nations. Russia (49), Brazil (79), China (90), South Africa (119) and India (131).
  • India related facts: India’s HDI value increased from 0.428 in 1990 to 0.624 in 2015. However, its average annual growth in HDI (1990-2015) was higher than that of other medium HDI countries.
  • In 2015 HDI, India ranked 130 with score of 0.609 and was placed in the medium human development category.
  • Life expectancy at birth: In India, it has increased from 68 years to an average of 68.3 years — 69.9 years for women and 66.9 years for men.
  • Access to knowledge: India’s expected years of schooling remains at 11.7 years, while mean years of schooling increased from 5.4 to 6.3 years.
  • India’s Gross National Income (GNI) based on per capita purchasing power parity (PPP): It has risen from $5,497 to $5,663.
  • Gender Inequality Index (GII): India ranked 125 among 159 countries. Only 12.2% of Parliament seats are held by women.
  • 8% of women above the age of 15 years are part of India’s labour force — compared to 79.1% men. The ratio of maternal mortality is 174 against every 100,000 live births.
  • Inequality-adjusted Human Development Index (IHDI): It is difference between the HDI and IHDI, expressed as a percentage of the HDI, indicating the loss in human development due to inequality.
  • India’s HDI was pegged at 0.624, but its value falls 27.2% after being adjusted for inequalities, resulting in a HDI value of 0.455.
  • Life expectancy adjusted with inequalities between 2010 and 2015 fell 24%, resulting in a value of 0.565.
  • The percentage of inequality in education in 2015 was 39.4% or 0.324 and inequality in income 16.1% or 0.512. 

About HDI

The HDI is a measure for assessing countries progress in three basic dimensions of human development: a long and healthy life (life expectancy), access to knowledge and access to a decent standard of living. Countries are ranked based on scale ranging between 0 (low) to 1 (high).

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India ranks 122 in 2017 World Happiness Report

India ranked at 122 out of 155 countries in the World Happiness Report 2017 published by the UN Sustainable Development Solutions Network on the eve of International Day of Happiness (20 March).

The rankings are based factors such as  inequality, life expectancy, GDP per capita, public trust (i.e. a lack of corruption in government and business), and social support. Together they are used to generate a happiness score of country on a scale from 1 to 10.This year it is fifth such report since the first was published in 2012.

Key Highlights of report
  • 10 Happiest Countries: Norway (1), Denmark (2), Iceland (3), Switzerland (4), Finland (5), Netherlands (6), Canada (7), New Zealand (8), Australia (9) and Sweden (10).
  • 5 Saddest Countries: Rwanda (151), Syria (152), Tanzania (153), Burundi (154) and Central African Republic (155).
  • The entire top ten were wealthier developed nations. But the report mentioned that money is not the only ingredient in the recipe for happiness. Countries in sub-Saharan Africa and those hit by conflict were ranked lower.
  • India was placed behind the majority of South Asian Association for Regional Cooperation (SAARC) nations, apart from war-ravaged Afghanistan (141). In the previous edition of the report, India ranked 118.
  • Eight SAARC nations: Pakistan (80), Nepal (99), Bhutan (97), Bangladesh (110) and Sri Lanka (120). Maldives did not figure in the report.
  • BRICS Countries: Brazil (17), Russia (56), China (79), South Africa (116) and India (122).

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