Traditional Approach Till 1960 the terms economic growth and economic development were considered to be the same ie synonyms. As a consequence economic development was taken to mean a sustained and steady increase in GDP (@ 5% to 7% per…
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ECONOMIC DEVELOPMENT – MEANING AND DEFINITIONS
Tagged with: defination, development, modern, qualitative, structural change, traditional
Posted in Indian Economy
Posted in Indian Economy
ECONOMIC DEVELOPMENT – INTRODUCTION
Economic development has been one of the universally accepted objectives since the Second World War. Economic growth is easy to realize as output can be increased by mobilizing resources and increasing their productivity. Economic development on the other hand is…