{"id":12559,"date":"2023-06-27T03:56:36","date_gmt":"2023-06-26T22:26:36","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=12559"},"modified":"2025-04-01T19:59:56","modified_gmt":"2025-04-01T14:29:56","slug":"world-competitiveness-index","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/world-competitiveness-index\/","title":{"rendered":"World Competitiveness Index"},"content":{"rendered":"<h2><strong>About World Competitiveness Index:<\/strong><\/h2>\n<ul>\n<li>The IMD <strong>World Competitiveness Yearbook (WCY<\/strong>), was first published in 1989.<\/li>\n<li>It is a comprehensive annual report and worldwide reference point on the competitiveness of countries.<\/li>\n<li>It analyzes and ranks countries according to how they manage their competencies to achieve long-term value creation.<\/li>\n<li>It is based on 336 competitiveness criteria and four factors namely <strong>Economic performance, Government efficiency, Business efficiency and Infrastructure.<\/strong><\/li>\n<\/ul>\n<h3><strong>Key Points of the Index<\/strong><\/h3>\n<ul>\n<li><strong>Denmark, Ireland and Switzerland<\/strong> have been named the top three among 64 economies measured for their global competitiveness.<\/li>\n<li><strong>India<\/strong> fell 3 rungs to <strong>finish 40th<\/strong> but is still in a better position than it was between 2019-2021 when it was placed 43rd three years in a row.<\/li>\n<li>India improved in government efficiency but fared slightly poorer than other countries in business efficiency, infrastructure, and economic performance.<\/li>\n<li>Specifically, the top three measures that helped India in its score are exchange rate <strong>stability, compensation levels and improvements in pollution control<\/strong>.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<hr \/>\n<h3><strong>Q1) What is Economic efficiency?<\/strong><\/h3>\n<p>Economic efficiency refers to the optimal allocation of resources to maximize the overall welfare or output within an economy. It is a concept that assesses how well resources, such as labor, capital, and natural resources, are utilized to generate goods and services.<\/p>\n<p>\n<strong>Source:<\/strong>\u00a0<a href=\"https:\/\/economictimes.indiatimes.com\/news\/india\/singapore-falls-one-spot-to-4th-in-2023-global-competitiveness-index-india-ranks-40th\/articleshow\/101265654.cms?from=mdr\" target=\"_blank\" rel=\"nofollow noopener\"><u>Singapore falls one spot to 4th in the 2023 global competitiveness index, India ranks 40th<\/u><\/a><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>World Competitiveness Index is a comprehensive annual report and worldwide reference point on the competitiveness of countries.<\/p>\n","protected":false},"author":5,"featured_media":12560,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-12559","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/12559","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=12559"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/12559\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/12560"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=12559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=12559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=12559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}