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ECONOMIC DEVELOPMENT

 

 

 

 

 

 

 

 

 

 

Meaning of Development Parameters of Development Combination of Development Goals

 

 

ECONOMIC DEVELOPMENT

 

Different persons can have different developmental goals and two, what may be development  for  one  may  not  be  development  for  the  other.  It may  even  be destructive for the other.

 

Different people have different developmental needs. These needs are based on their particular life situations.

 

This creates a need for a development goal which can encompass different needs of different people in a fair way.

 

Goals of Development:

 

Per Capita Income: The total income of a country divided by the population is called the per capita income of that country.

 

Gross National Product: The total income generated in the country is called Gross

National Product.

 

Gross Domestic Product: The total income generated minus the income generated by exports is called the Gross Domestic Product.

 

Infant Mortality Rate: The number of children who die before completing one year out of 1000 births is called the infant mortality rate. The lesser figure is a better indicator of development. This is an important parameter as it shows the quality and extent of availability of healthcare in a country.

 

Male to Female Ratio: Number of female per thousand male is called sex ratio. A lesser figure shows society’s aversion to a girl child and worse condition  of women in society.

 

Life expectancy: The maximum age up to which an adult lives is called the life expectancy rate. This also shows the overall quality of life in a country.

 

Literacy Rate: The percentage of literate people is another important indicator of development. Education is a big leveler as it opens newer opportunities for the educated person. Especially in a country like India you can see many examples of a brilliant student coming from a lower class family cracking the IITs. Once you are in IIT then you get a bright and secure future for you and your family.

 

Infrastructure: Roads, railways, airports, ports and power generation are the lifelines of a nation’s economy. A better infrastructure ensures a better economic activity leading to overall prosperity.

 

 

 

Combination of Goals Needed for Development: The above mentioned list is not all inclusive but they are more important than other goals which are not mentioned here.

 

Every goal or parameter of development is interrelated. Each goal influences the other and creates an opportunity for development in a fair way.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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