Hayat Ashraf

Economic growth and economic development are closely related but distinct concepts. In the context of India, here's an overview of these two concepts: 1. Economic Growth: Economic growth refers to the increase in the production of goods and services in an economy over a specific period, usually measured by the growth of Gross Domestic Product (GDP). It is typically quantified by the growth rate of GDP, which represents the value of all goods and services produced within a country's borders. India has experienced significant economic growth over the past few decades. It has emerged as one of the fastest-growing major economies in the world. Factors contributing to India's economic growth include a large and young workforce, domestic market demand, robust service sector growth, and increased foreign investment. 2. Economic Development: Economic development goes beyond mere economic growth and encompasses broader social and human welfare considerations. It involves improving t...