India was categorized as a ‘leader’ or ‘strong’ in respect of 25 (21 in the previous exercise) out of 40 indicators and categorized as ‘weak’ in respect of 8 (12 in the previous exercise) indicators. The highlights of the present exercise are as below: The rating categories are as follows:ī) “Strong”: in the top half of the countries other than the leaders Ĭ) “Moderate”: in the bottom half of countries other than the bottom 5 and The rating has been done for each indicator considering countries for which data was available and only India has been rated. The present report is a follow-on benchmarking exercise, covering the same countries and parameters used in the earlier study, to measure India’s standing vis-à-vis twenty other countries, as well as the progress since the last exercise, across payment systems and payment instruments. The exercise also seeks to examine the user preferences for payment systems and instruments vis-a-vis other jurisdictions”, said the RBI report. This exercise of benchmarking India’s payment systems aims to assess the progress of India’s payments ecosystem against other major countries as also ascertain the strengths and shortcomings of the Indian payments ecosystem. The above exercise was conducted for 21 countries, (including advanced economy countries, Asian economies, and BRICS (Brazil, Russia, India, China, and South Africa) nations, where payment systems were considered robust, diverse, and efficient. The pilot exercise for benchmarking India’s payment systems was undertaken in 2019 with respect to the position in 2017. The PGI will reflect the relative performance of all the States/UTs in a uniform scale which encourages them to perform better and to adopt best practice followed by performers,” it said.The Reserve Bank of India on Friday released the report on Benchmarking India’s Payment Systems providing a comparative position of the payments ecosystem in India relative to other 21 major countries. The indicator-wise PGI score shows the areas where a state needs to improve. €œPGI Scores and grades achieved by States/UTs in 2020-21 bear testimony to the efficacy of the PGI system. Gujarat, Rajasthan and Andhra Pradesh are the new entrants to the highest achieved level of any state so far,” the ministry said. What Has Been Said:Ī total of 7 States and UTs, Viz, Kerala, Punjab, Chandigarh, Maharashtra, Gujarat, Rajasthan, and Andhra Pradesh have attained Level II (score 901-950) in 2020-21 as compared to none in 2017-18 and 4 in 2019-20. The PGI is expected to help States and UTs to pinpoint the gaps and accordingly prioritize areas for intervention to ensure that the school education system is robust at every level. The ultimate benefit of PGI is to propel States & UTs towards undertaking multi-pronged interventions that will bring about the much-desired optimal education outcomes covering all dimensions. The lowest grade is Level 10 which is for score below 551. As was done in the previous years, PGI 2020-21 classified the States/UTs into ten grades viz., highest achievable Grade is Level 1, which is for State/UT scoring more than 950 points out of total of 1000 points.These categories are further divided into 5 domains, viz, Learning Outcomes (LO), Access (A), Infrastructure& Facilities (IF), Equity (E) & Governance Process (GP).The PGI structure comprises of 1,000 points across 70 indicators grouped into two categories –Outcomes, and governance management.So far, the department has released the PGI report for the year 2017-18, 2018-20. DoSE & L (Department of School Education and Literacy) devised PGI for States/UTs to provide insights and data-driven mechanisms on the performance and achievements of on the success of school education across all States/UTs,” the ministry said in a statement. €œ The Indian Education System is one of the largest in the world with about 14.9 lakh schools, 95 lakh teachers, and nearly 26.5 crore students from varied socio-economic backgrounds. The prime objective of PGI is to promote evidence-based policymaking and highlight course correction to ensure quality education for all, the Ministry of Education said. A Very Bad Outlook For Indian Youth, Please Read The Article Below To Know More:.
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