Economic Survey Important Terms Part 12

By Anirudh Aggarwal|Updated : April 18th, 2018
  1. European Bank for Reconstruction and Development:

The European Bank for Reconstruction and Development (EBRD) is an international financial institution founded in 1991. The EBRD uses investment as a tool to build market economies. It is Headquartered in London.

Similar to other multilateral development banks, the EBRD has members from all over the world with the biggest shareholder being the United States, but only lends regionally in its countries of operations.

The EBRD is not to be confused with the European Investment Bank (EIB), which is owned by EU member states and is used to support EU policy.

In November 2017, Union Cabinet chaired by the PM has approved India's Membership for EBRD.

  1. Life expectancy at birth (LE)

It indicates the number of years a newborn would live if prevailing patterns of mortality at the time of its birth were to stay the same throughout its life. It is based on the year of their birth, their current age and other demographic factors including gender.

For India, Life expectancy at birth (2017):

Total population

68.8 years

Male

67.6 years

Female

70.1 years

 

  1. Infant Mortality Rate:

It is defined as the number of infants dying before reaching one year of age, per 1,000 live births in a given year. As per September, 2017, India has registered a significant decline in IMR. IMR of India has declined by three points, from 37 per 1000 live births in 2015 to 34 per 1000 live births in 2016.

  1. Total Fertility Rate:

It is defined as the number of children that would be born to a woman if she were to live to the end of her childbearing years and bear children in accordance with age-specific fertility rates in a given year.

As per the NFHS-4, the community with the lowest fertility rate, 1.2, was the one with the highest level of education, the Jains. India's overall TFR was 2.2.

  1. Disability Adjusted Life Years:

The disability-adjusted life year (DALY) is a measure of overall disease burden, expressed as the number of years lost due to ill-health, disability or early death. It was developed in the 1990s as a way of comparing the overall health and life expectancy of different countries.

 

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