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CONCEPT OF ECONOMIC DEVELOPMENT By- Dr Sanjay Kumar Sr. lecturer In Economics R.K.Shahi Govt Degree College Patherdewa, Deoria.
It is multi- dimensional phenomenon, it involves not only increase in money income, but also improvement in real habits, education, public health, greater leisure, and in fact all the social & economic circumstances that makes for a fuller & happier life.
CHERETERISTICS OF ECONOMIC DEVELOPMENT(ECO. DEV )
Eco. Dev is a continues process.
Increase in real national income & per capita income.
It is a long term process.
Proper use of natural resources.
Increase in social welfare & life style of the society.
NEED & IMPORTANCE OF ECONOMIC DEVELOPMENT
Increase in persons chosen work area.
In countries national productivity.
Lack in economic difference.
Increase in rate of savings& capital
Increase in employment opportunities.
Improvement in living standards & poverty
STAGES OF ECONOMIC DEVELOPMENT
Stage of traditional society.
Stage of pre-condition to take off.
The take off stage.
Drive to maturity.
DETERMINANTS OF ECONOMIC DEVELOPMENT
Size of human resource
Increase in capital formation
Use of natural resources
Tech-progress & innovation
Flow of foreign capital
NON ECONOMIC FACTORS
Change in social & institutional factors of a country
Internal circumstances of a country
STRATEGIES OF ECONOMIC DEVELOPMENT
MEASURMENT OR INDICATORS OF ECONOMIC DEVELOPMENT
By measuring national income
By measuring personal income
By measuring occupational structure in the economy
By measuring the increase in the economic welfare of the people