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In today's world, the word 'development' is used widely. It refers to the progress of a particular field or a specific person.  In this chapter, we will learn about
  • The meaning of development from different perspectives
  • The meaning of economic development
  • The indicators of economic development
  • The policies for sustainable development
Likewise, the economic progress of a country is known as 'economic development'. However, the understanding of the concept development keeps on changing.
Different Perspectives About Development
Every human being has an ambition or desire of their own to achieve progress in life. Likewise, we have ideas about how a country should progress. If our thinking turns towards progress and how to accomplish those goals for improvement, it leads to development.
Development refers to the improvement in quality of life such as higher income, better education, better health and nutrition, less poverty and equal opportunity.
The term 'economic development' refers to the overall growth of all sectors of the economy by adoption of new technologies. Economic development improves the living standards of the people as well as the status of the country.