Economics explained in Tamil| GROWTH vs DEVELOPMENT| UPSC & TNPSC

Описание к видео Economics explained in Tamil| GROWTH vs DEVELOPMENT| UPSC & TNPSC

Economics explained in Tamil| GROWTH vs DEVELOPMENT| UPSC & TNPSC


Economic Growth is more of a physical construct and mostly refers to GDP growth and development of Physical Capital- viz, Per capita income, industry, exports, infrastructure etc

Economic Development is a wider and holistic concept than Growth. It includes development in Human capital as well. It denotes improvement in the overall standards of living of the people of the country in parameters such as Health, Education, employment, Freedom etc.

Human Development Index(HDI) is a better reflector of Economic development. HDI is released by UNDP (United Nations Development Programme).

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