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    Fernando Bucheli, Ambassador of the Republic of Ecuador, met Chief Secretary.GoK

    FCA bans former Credit Suisse vice president following US criminal conviction

    “By uniting our talent and expertise, we can drive progress toward a more climate-resilient and healthier future.” -Dr M.C. Sudhakar,  Minister for Higher Education, GoK.

    World Health Assembly adopts historic Pandemic Agreement to make the world more equitable and safer from future pandemics

    Philips Future Health Index 2025: AI poised to transform global healthcare, urging leaders to act now

    WHO warns of slowing global health gains in new statistics report

  • National
    • All
    • Economy & Politics
    • Election

    India to the International Grid: UMA Bootcamp 2025 Opens Applications for Global Track Training

    Governor Thaawarchand Gehlot Inaugurates ‘Centre for Future Skills’ at Karnataka State Open University

    Governor Presents “Atithya Rathna” and “Udyama Rathna” Awards at Karnataka State Hotels Association’s 70th Anniversary Celebration

    Students aspiring to pursue education in the academic year 2025–26 are encouraged to enroll in BBMP schools/colleges and make the best use of the facilities provided by BBMP: Suralkar Vikas Kishor

    Scientific leaders honored by 3M and Discovery Education

    UMA Bootcamp 2025 Opens Applications for India’s Brightest Motorsport Engineers

  • Business

    Cambridge announces results of its largest ever March series held in India

    Blue Dart Express Limited Clocks ₹ 5,720 Cr Revenue for FY25, Maintains Steady Q4 Momentum

    Reliance General Insurance delivers PAT up YoY by 12.5% at INR 315 cr, Gross Direct Premium of ₹12,548 crore – up 7.4% YoY, outpacing industry growth of 5.2%

  • Health

    DKMS Foundation India Honours Stem Cell Donors Who Gave Blood Cancer Patients a Second Chance at Life

    Bisleri Excites Consumers with “Mission Impossible – The Final Reckoning” Limited Edition Pack

    Philips Future Health Index 2025: AI poised to transform global healthcare, urging leaders to act now

    GSK TO ACQUIRE EFIMOSFERMIN.

    Safer walking and cycling crucial for road safety and better health

    Health inequities are shortening lives by decades

  • Technology
    • All
    • Environment
    • Science

    Inaugural program of “Vidhan Soudha Guided Walking Tour” on May 25.

    LTIMindtree Signs MoU with IIM Mumbai to Launch Postgraduate Program for Executives in AI-led Experience Design

    “By uniting our talent and expertise, we can drive progress toward a more climate-resilient and healthier future.” -Dr M.C. Sudhakar,  Minister for Higher Education, GoK.

    The team from Sri Ramakrishna Engineering College, Coimbatore, received the 'Winner' award from Prof. (Dr.) T. G. Sitharam, Chairman of AICTE, and Mr. Abhishek Sinha, Executive Director & President - Medical, Smart World & Functions, L&T Technology Services.

    8th Edition of TECHgium® Showcases Engineering Excellence and Bold Innovations

    Union Minister Shri Ashwini Vaishnaw Unveils India’s First 3nm Chip Design Centres in Noida and Bengaluru

    “Modern warfare is entirely technology driven and India’s supremacy stands proven over the last four days”, says Dr Jitendra Singh

  • Auto
    Mr. Khaled Mahmoud, CEO, MM Group for Industry and International Trade along with Mr. Asif Shamim, Head, International Business, Tata Motors Commercial Vehicles at the launch of Tata Motors’ commercial vehicles range in Egypt

    Tata Motors advances Egypt’s Mobility Landscape; Launches Wide Range of Commercial Vehicles in Partnership with MTI

    Volvo Cars and Google expand partnership with Gemini integration and accelerated automotive innovation

    Honda Motorcycle & Scooter India Launches All-New “X-ADV”

    All-New RAV4 World Premiere

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    India to the International Grid: UMA Bootcamp 2025 Opens Applications for Global Track Training

    BCCI announces fixtures for Australia Women’s, Australia Men’s A and South Africa Men’s A team tours of India

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    Team India (Senior Women) squads for the England tour announced

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    ‘Waves’ an OTT platform that offers clean family-friendly content: Sunil Bhatiya, Deputy Director General, Doordarshan Kendra, Panaji

    Sri Sai Gold Palace’s 7th store inaugurated in Malleshwaram,Bengaluru.

    Lulu Mall Hosts Bangalore’s Biggest Non-Alcoholic Holi Celebration

    Karmic Beauty’: Pure by Nature, Potent by Ingredients

    An Iconic Culinary Affair: Le Cirque Arrives at The Leela Hyderabad

    “Whether it’s for MICE, a dream wedding, or a family vacation, Malaysia has something for everyone.”-Mr. Hishamuddin Mustafa,Director of Tourism Malaysia Chennai.

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    Max Fashion’s 9th Disney Collaboration Launches with a Lilo & Stitch-Themed Kids Festival, Featuring Neha Dhupia in a Playful Style Celebration

    FOR THE FIRST TIME, A THREE-DAY ORGANIC MANGO AND JACKFRUIT FAIR IS BEING ORGANIZED AT LALBAGH – DIRECTOR RAMESH

    Bisleri Excites Consumers with “Mission Impossible – The Final Reckoning” Limited Edition Pack

    Philips Future Health Index 2025: AI poised to transform global healthcare, urging leaders to act now

    GSK TO ACQUIRE EFIMOSFERMIN.

    No Limits, No Rules: Tata CLiQ Fashion, Tata CLiQ Luxury, and Tata CLiQ Palette announce The Big CLiQ Sale

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World Economic Forum Launches Call to Action for Governments to Set Targets beyond GDP Growth to Guide Economic Recovery

FWM by FWM
October 21, 2020
in Business
0
  • World Economic Forum launches call to action for global convergence by governments on Dashboard for a New Economy
  • The new dashboard aims to move beyond GDP and give equal weight to people, planet, institutions and prosperity, recognizing their close interlinkages
  • Recent Chief Economists Survey suggests the risk of economic and social polarization is still high and countries are not yet prepared enough to shape the required structural transformation
  • Follow discussions about the Dashboard for a New Economy at the Jobs Reset Summit 2020 and read the report here

Switzerland, Geneva, 21 October 2020 – The World Economic Forum launches today the Dashboard for a New Economy platform, representing a renewed international effort to converge on and implement economic policy targets beyond GDP growth. Some pioneering countries, such as New Zealand, have made significant progress in implementation, yet global progress is still limited.

The dashboard framework and principles are an open invitation for governments, economists and other stakeholders to converge on a common core set of targets to guide the economic recovery (Table 1). The purpose of the report is not to present a new and separate framework but to provide a platform for stakeholders to unite around a shared vision of what constitutes economic success in the post-pandemic world.

“The COVID-19 crisis has starkly exposed the inadequacies of our economic systems and institutions. With government and business leaders faced with the daunting task of shaping the recovery, measuring its progress in terms of GDP growth alone will not be sufficient. A “Great Reset” is needed, guided by a comprehensive and inclusive set of new targets and metrics for governments and businesses to adopt,” said Saadia Zahidi, Managing Director, World Economic Forum.

Dashboard of new economy - dimensions
Image: World Economic Forum

Encouraged by the recent traction for convergence on non-financial success metrics at the individual business level, such rapid progress is also possible and necessary at the national level. The Dashboard for a New Economy is organized along four key dimensions: prosperity, planet, people and institutions. It aims to strike a balance between being comprehensive as well as concise enough to serve as a mental model for thinking about the recovery and future progress.

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The current outlook for a recovery remains uncertain. While still far below its pre-COVID trend, the global GDP recovery – in its current definition – is progressing along the lines of upside projections from June. Yet the recovery is losing momentum as uncertainty over a second wave of COVID-19 is high. Recovery paths of the largest economies are diverging as China and Germany pull ahead of the United States, France, Italy, Spain and the United Kingdom.

Threats to further acceleration of economic and social polarization are many and commitments to targeting stimulus towards greening, reskilling and digitalization not yet ambitious enough. Indeed, the latest Chief Economists Survey indicates that the disconnect between labour markets and stock markets is likely to persist and countries are not yet prepared enough to shape the needed structural transformation.

These are not simply questions to be addressed after the COVID-19 crisis subsides – forward-thinking leaders should take action now to reset their compass for the recovery.

The World Economic Forum is hosting the Jobs Reset Summit from 20-23 October to provide an interactive space for experts and the public to discuss the dashboard framework and principles. The virtual four-day event will convene visionary leaders from business, international organizations, government, civil society, media and the broader public to shape a new agenda for growth, jobs, skills and equity. Follow sessions live at

Tags: World Economic Forum
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