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Norway remains world’s most inclusive advanced economy, while Lithuania tops the list of emerging economies, the World Economic Forum (WEF) said in the report published yesterday.
The index takes into account the “living standards, environmental sustainability and protection of future generations from further indebtedness”, the WEF said.
It urged the leaders to urgently move to a new model of inclusive growth and development, saying reliance on GDP as a measure of economic achievement is fuelling short-termism and inequality.
India was ranked 62, while Pakistan placed at 52 and Sri Lanka at 40.
The 2018 index, which measures progress of 103 economies on three individual pillars — growth and development; inclusion; and inter-generational equity — has been divided into two parts. The first part covers 29 advanced economies and the second 74 emerging economies.
Although China ranks first (placed at 26) among emerging economies in GDP per capita growth (6.8 per cent) and labour productivity growth (6.7 per cent) since 2012, its overall score is brought down by lacklustre performance on inclusion, the WEF said.
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