Question

What is difference between economic growth and economic development?

Solution

Growth refers to a situation of sustained increase in GDP over a long period of time leading to rise in standard of living of people, whereas economic development refers to growth with equity as well as structural change in the economy.

Some More Questions From Indian Economy 1950-1990 Chapter

Who floated the idea of planning in India first of all?

How many plans have been completed in India so far?

Define capitalist economy.

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Indian Economy 1950-1990

What is difference between economic growth and economic development?

Some More Questions From Indian Economy 1950-1990 Chapter

Who floated the idea of planning in India first of all?

How many plans have been completed in India so far?

Define capitalist economy.

What is a socialist economy?

What is mixed economy?

What is meant by economic growth?

What structural change undergoes with development of the economy?

Name the sectors from which the GDP of a country is derived.

On which idea is the policy of 'land to tiller' is based?

Where is the provision for economic and social planning in our Constitution?

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