Economic Development and Planning T.Y. B.A. Economics General Paper III G.3 Economic Development and Planning

WELCOME Presented by Jyoti S. Jadhav

Economic Development and Growth: Chapter-I Economic Development and Growth: 1.1 Meaning of Economic Development and Growth 1.2 Indicators of Economic Growth 1.3 Indicators of Economic Development 1.4 Differences between Economic Development & Growth

1. Economic Development and Growth 1.1 Meaning of Economic Development and Growth :- Economic growth The increase in a country's real level of output over a period of time, i.e. the increase in real Gross Domestic Product, Per Capita income etc.

Economic Development Economic development, on the other hand, is a process where there is improvement in the Standard of living of all people in the country. the promotion of attributes such as self-esteem, dignity and respect, and the enlarging of people's freedom to choose and to take control of their own lives.

Indicators of Economic Growth High rates of growth of per capital product and population- Rise in productivity- High Rate of Structural Transformation- Urbanisation- The outward expansion of Developed countries- International flows of men, goods and capital-

Indicators of Economic Development 1. Gross National Product- (GDP) GNP= C+I+G+(X-M)+(R-P) 2. Per Capita Real Income- 3. Economic Welfare- 4. Standard of Living-

Concept- Developed and Developing Countries- United Nations group of experts- Professor Jacob Viner- Professor Ragnar Nurkse Staley

Characteristics of Developin Countries Low Per Capita Income Deficiency of Capital- Underdeveloped Natural Resources Excessive Dependence on Agriculture- Large Scale Unemployment- Foreign Trade Orientation- Factor Disequilibrium- Economic Backwardness- Poor Economic Organisation- Limited Credit and Marketing Facilities-

Demographic Characteristics Over population- High Birth Rate and Declinning Death Rate- Shorter Life Expectancy- Development Ratio- Inadequate Nutrition and Dietary Deficiencies- High Density of Agricultural Population- Low Quality of Population-

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