Wednesday 4 November 2015

impact on economy by bridging the gender gap



BRIDGE THE GAP
Bridging the gender gap will have huge economic impact and could add Rs 46 lakh crore 
to India’s gross domestic product (GDP) in 2025, says a report by the McKinsey
 Global Institute (MGI).
The report said about 70 per cent rise in GDP would come from
 raising India’s women labour-force participation rate
MGI has developed a Gender Parity Score that uses the 15 indicators to measure the 
progress each country has achieved on gender parity in society and the economy
The report said gender disparity was high on three dimensions — gender equality in work,
 legal protection and political voice, and physical security and autonomy
The report found a huge variation in gender equality among India’s 32 states
India’s share of women’s contribution to GDP is at 17 per cent, much lower than the global 
average of 37 per cent
 India would gain the most with Rs 190.2 lakh crore  added to annual GDP in 2025, 60 per 
cent higher than business-as-usual

The economic boost would translate to 1.4 per cent a year incremental GDP growth for 

India. This would bring 68 million more women into the economy over this period, the
 report said.

The report said gender inequality in India was high or extremely high on three dimensions in MGI’s framework — gender equality in work, legal protection and political voice, and physical security and autonomy — and medium to high on the fourth dimension of essential services and enablers of economic opportunity.
MGI has developed a gender parity score (GPS) that uses 15 indicators to measure each country’s progress on gender parity in society and the economy. GPS establishes a strong link between gender equality in society, attitudes and beliefs about the role of women, and gender equality in work.
In its analysis for India, MGI has introduced a new score, an India Female Empowerment Index or Femdex, to measure gender equality at the state level. It is based on a sub-set of 10 of the 15 indicators for which state-level data was available.

The average Femdex score of the top-five states closest to gender parity — Mizoram, Kerala, Meghalaya, Goa and Sikkim — stood at 0.67, which is comparable with a modified GPS (considering only the 10 indicators included in the Femdex) for Argentina, China and Indonesia.
 The average Femdex of India’s bottom-five states on gender parity — Bihar, Madhya Pradesh, Assam, Jharkhand, and Uttar Pradesh — was 0.46, comparable to the modified GPS of Chad and Yemen.

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