Topics Covered: Women related issues.
Women, Business and the Law 2020
What to study?
For Prelims: About the index and it’s overview.
For Mains: Significance and challenges highlighted, ways to address them.
Context: Women, Business and the Law 2020, the sixth edition in a series, has been released.
Women, Business and the Law (WBL) is a World Bank Group project collecting unique data on the laws and regulations that restrict women’s economic opportunities.
About the Women, Business and the Law Index:
The index analyzes laws and regulations affecting women’s economic inclusion in 190 economies.
- It is composed by eight indicators structured around women’s interactions with the law as they begin, progress through and end their careers, aligns different areas of the law with the economic decisions women make at various stages of their lives.
The indicators are:
- Mobility, Workplace, Pay, Marriage, Parenthood, Entrepreneurship, Assets, and Pension.
How are countries ranked?
- The study tracked “how laws affect women at different stages in their working lives and focusing on those laws applicable in the main business city”.
- The Index is based on the countries’ formal laws and regulations that have a bearing on women’s economic participation.
Performance of various countries:
- No economy in ‘East Asia and the Pacific’, ‘Europe and Central Asia’, or ‘Latin America and the Caribbean’ were among top reformers, the report claimed.
- Only eight economies scored a perfect 100 —Belgium, Canada, Denmark, France, Iceland, Latvia, Luxembourg, and Sweden. Those countries have ensured equal legal standing to men and women on all the eight indicators of the index.
- The global average was 75.2 — a slight increase from 73.9 in the previous index released in 2017.
Performance of India:
- India is placed 117th among 190 countries.
- It scored 74.4 on a par with Benin and Gambia and way below least developed countries like Rwanda and Lesotho.
No country can achieve its full potential without the equal participation of women and men. Achieving gender equality is not only the right thing to do but it is also good for a country’s economic growth and development.
Sources: Indian Express.