Economic Policy for Balanced Growth
The broad objective of economic policy in India is to bring about rapid economic growth of the country. Economic growth to be meaningful, in a large country like India, should be balanced, regionally, locally, sectorally and temporally. Economists have made a distinction between the two terms, economic growth and economic development. While the term economic implies a quantitative increase in the volume of productions of goods and services in the country, as reflected by an increase in the real gross domestic product and real per capita gross domestic product and real per capital gross domestic product of the country over the years, the phrase economic development has a qualitative connotation besides its quantitative aspect. Economic development of a country implies not only a quantitative increase in the volume of production, but also a qualitative improvement in its distribution. The distributive criterion of economic development can be......
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Approximate Word Count: 1624
Approximate Pages: 7 (260 words per double-spaced page) |