In news- Quality of Life for Elderly Index was released by the Chairman, Economic Advisory Council to the Prime Minister (EAC-PM) recently.
About the Index
- The Index has been created by the Institute for Competitiveness at the request of EAC-PM and it sheds light on an issue often not mentioned- problems faced by the elderly.
- The report identifies the regional patterns of ageing across Indian States and assesses the overall ageing situation in India.
- The report presents a deeper insight into how well India is doing to support the well-being of its ageing population.
- This index broadens the way we understand the needs and opportunities of the elderly population in India.
- It goes far beyond the adequacy of pensions and other forms of income support, which, though critical, often narrows policy thinking and debate about the needs of this age group.
The Index framework includes four pillars:
- Financial Well-being.
- Social Well-being.
- Health System and
- Income Security.
Right sub-pillars are:
Economic Empowerment, Educational Attainment & Employment, Social Status, Physical Security, Basic Health, Psychological Well Being, Social Security and Enabling Environment.
- Rajasthan and Himachal Pradesh are top-scoring regions in Aged and Relatively Aged States, respectively.
- Chandigarh and Mizoram are top-scoring regions in Union Territory and North-East States category.
- Jammu and Kashmir scored the lowest 46.16 among Union Territories.
- Arunachal Pradesh, among the northeastern states, scored the lowest score with 46.16.
- In the aged states and relatively aged states categories, Telangana and Gujarat scored the lowest with 38.19 and 49.00, respectively.
- The Aged States refer to States with an elderly population of more than 5 million, whereas Relatively Aged States refer to States with an Elderly population of less than 5 million.
- The Health System pillar observes the highest national average, 66.97 at an all-India level, followed by 62.34 in Social Well-being.
- Financial Well-being observes a score of 44.7, which is lowered by the low performance of 21 States across the Education Attainment & Employment pillar, which showcases scope for improvement
- States have performed particularly worse in the Income Security pillar because over half of the States have a score below the national average, i.e., 33.03 in Income Security, which is the lowest across all pillars.
- These pillar-wise analyses help States assess the state of the elderly population and identify existing gaps that obstruct their growth
- The index highlights that the best way to improve the lives of the current and future generations of older people is by investing in health, education and employment for young people today.
Economic Advisory Council to the Prime Minister (EAC-PM)
- EAC-PM is a non-constitutional, non-permanent independent body constituted to give advice on economic and related issues to the Government of India, specifically to the Prime Minister.
- Composition: Currently it is composed of a chairman, a Member Secretary and three Part-time members.
Terms of Reference of the EAC-PM
- Analyse any issue, economic or otherwise, referred to it by the Prime Minister and advising him thereon.
- Addressing issues of macroeconomic importance and presenting views thereon to the Prime Minister. This could be either suo-motu or on reference from the Prime Minister or anyone else.
- Attending any other task as may be desired by the Prime Minister from time to time.
Institute for Competitiveness
Institute for Competitiveness, India is the Indian knot in the global network of the Institute for Strategy and Competitiveness at Harvard Business School.
Institute for Competitiveness, India is an international initiative centered in India, dedicated to enlarging and purposeful disseminating of the body of research and knowledge on competition and strategy, as pioneered over the last 25 years by Professor Michael Porter of the Institute for Strategy and Competitiveness at Harvard Business School.