The World Happiness Report continues to draw global attention around the need to create sound policy for what matters most to people their well-being," said Jeffrey Sachs, Director of the Sustainable Development Solutions Network that produced the report.

The World Happiness Report 2017, which ranked 155 countries by their happiness levels. Norway jumped three spots from last year, displacing Denmark, which had held the top spot for three out of the past four years.

India was ranked on the 122nd spot, down from 118 in the 2013-2015 report, which maps happiness on the parameters of GDP per capita, social support, healthy life expectancy, freedom to make life choices, generosity and perceptions of corruption.

Top 10 Happiest Countries:

1. Norway 7.54
2. Denmark 7.42
3. Iceland 7.5
4. Switzerland 7.49
5. Finland 7.47
6. Netherlands 7.38
7. Canada 7.32
8. New Zealand 7.321
9. Sweden 7.28
10. Australia 7.28

Bottom most Saddest Countries:

146. Yemen 3.59
147. South Sudan 3.59
148. Liberia 3.53
149. Guinea 3.51
150. Togo 3.49
151. Rwanda 3.47
152. Syria 3.46
153. Tanzania 3.35
154. Burundi 2.91
155. Central African Republic 2.69

Nations such as China (79), Pakistan (80), Nepal (99), Bangladesh (110), Iraq (117) and Sri Lanka (120) fared better than India on the ranking.

The report was released at an event celebrating International Day of Happiness. It is the fifth report to come out since 2012.