Economic Growth is defined as the rise in the money value of goods and services produced by all the sectors of the economy per head during a particular period. Refers to the rise in the value of everything produced in the economy Yearly increase in the country’s GDP or GNP, in percentage terms. It is a quantitative measure that shows the increase in the number of commercial transactions in an economy.

1. ECONOMIC GROWTH IN
RELATIVELY
UNDEVELOPED STATES
IN INDIA
BY : PRASHANT ARSUL

2. FLOW OF PRESENTATION
• Economic Growth – Some Definitions
• Economic Growth and Economic Development
• Economic Growth in relatively undeveloped states
• Growth Rates
• Indicators of underdevelopment

3. ECONOMIC GROWTH
• Economic Growth is defined as the rise in the money
value of goods and services produced by all the sectors of
the economy per head during a particular period.
• Refers to the rise in the value of everything produced in
the economy
• Yearly increase in the country’s GDP or GNP, in
percentage terms.
• It is a quantitative measure that shows the increase in the
number of commercial transactions in an economy.

4. ECONOMIC GROWTH AND
ECONOMIC DEVELOPMENT
ECONOMIC GROWTH ECONOMIC DEVELOPMENT
Meaning positive change in the
real output of the
country in a particular
span of time
Economic Development involves rise in
the level of production in an economy
along with the advancement of
technology, improvement in living
standards and so on.
Concept Narrow Broad
Indicators Increase in the
indicators like GDP, per
capita income etc.
Improvement in life expectancy rate,
infant mortality rate, literacy rate and
poverty rates.
Term Short term process Long term process
Kind of
changes
Quantitative changes Qualitative and quantitative changes
Timeframe In a certain period of
time.
Continuous process

5. ECONOMIC GROWTH IN RELATIVELY
UNDEVELOPED STATES
The committee, headed by Raghuram Rajan (Ex-RBI governor)
suggested based on the Multi Dimensional Index (MDI) scores, the
10 least developed states are:
Source: https://timesofindia.indiatimes.com/india/Odisha-Bihar-
least-developed-states-Goa-and-Kerala-top-chart-Rajan-panel-
report/articleshow/23094131.cms
Madhya
Pradesh
Chhattisgarh Jharkhand Arunachal
Pradesh
Assam
Meghalaya Uttar Pradesh Rajasthan Odisha Bihar

6. GROWTH RATES FOR UNDEVELOPED
STATES AT CONSTANT 2011-12 PRICES
Name 2012-13 2013-14 2014-15 2015-16 2016-17
Madhya
Pradesh
11.4 3.8 5.2 6.2 14
Chhattisgarh 8.1 9 3.8 6.9 8.7
Jharkhand 8.2 1.6 12.5 5.9 7.7
Arunachal
Pradesh
2.14 9.29 16.7 15.7 3.8
Assam 2.91 4.88 6.9 8.3 -
Meghalaya 2.2 1.83 -2.7 7.9 6.1
Uttar
Pradesh
4.7 5.8 4 8.1 7.2
Rajasthan 4.5 7 7.3 7 7.3
Odisha 5.4 9.3 1.8 8.2 10.4
Bihar 3.93 4.98 3.6 7.5 10.3

7. DEVELOPED STATES
The seven most developed states are:
Goa Maharashtra
Kerala Gujarat
Tamil Nadu Haryana
Punjab

8. INDICATORS OF
UNDERDEVELOPMENT
The underdevelopment index proposed here includes the
following ten sub-components:
1. monthly per capita consumption expenditure,
2. education,
3. health,
4. household amenities,
5. poverty rate,
6. female literacy,
7. percent of SC-ST population,
8. urbanization rate,
9. financial inclusion, and
10. Road connectivity.

9. Thank you