Economic Development, features and indicators

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 Economic Development :- 

Economic development is the growth of the standard of living of nations people from a low-income economy to a high-income economy in terms of reduction of poverty, inequality, unemployment, etc. 


Features of Economic Development :-

(a)- Structural Change

(b)- Sectoral Change

(c)- Qualitative Concept

(d)- Long term Concept

(e)- Public Participation

(f)- Increase in Real National Income


Indicators of Economic Development :-

(a)- Rise in Gross National Product (GNP)

(b)- Rise in Per-Capita Income (PCI)

(c)- Industrial Development

(d)- Productivity Per Hector of Land

(e)- Qualitative Entrepreneurship

(f)- Structural Transformation

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