Economic Development
                     
ECONOMIC DEVELOPMENT



ECONOMIC 
DEVELOPMENT


WHAT IS AN ECONOMIC DEVELOPMENT

Economic development is the measure for the improvement of a nation, economically, politically, and 
socially. Often, the words like Modernization, Westernization, and Industrialization are the words that are 
used to define an Economic Development. Economic development is not only the industrial development 
but also, is directly connected to the environment and environmental issues of a country.   The policies 
made for the economic growth of a country are based on improving the economic and social well-being of 
its people, that results in the market productivity and a rise in GDP. 


ECONOMIC DEVELOPMENT GOALS

For the economic growth of a country, we cannot rely only on the higher productivity and the industrial 
growth. Economic growth can't be achieved without focussing on other areas like the political preferences of 
the citizens, the extension of rights to all social groups and the opportunities. The economic growth also has 
to deal with the various other factors like literacy rates and poverty rates that are key focus areas for the 
economic development. Also, the health and education improvements have been closely related to economic 
growth. Though we are aware of the various aspects of economic growth, we cannot expect that particular 
economic development programs can handle the other problems as well. By establishing goals and creating 
perfect plans for the growth of every area, will boost the growth of the economy of a country.


TYPE OF ECONOMIC DEVELOPMENT
 Infrastructure
 Education
 Health & Wellness
 Justice
 Safety
 Human Rights
 Consumer Protection
 Fair Competition

 Research
 Industrial Base
 Service Economy
 Knowledge Economy
 Experience Economy
 Public Space
 Community
 Sustainability & Resilience

 Finance
 Political Stability
 Culture
 Transportation
 Energy
 Water
 Food
 Information Technology


ECONOMIC DEVELOPMENT POLICIES

For the sustainable economic growth, the Government must make policies including the monetary policy, 
fiscal policy, regulation of financial institutions, trade, and tax policies.
Creating new infrastructure, highways, parks, affordable housing, and also job creation along with the 
retention through specific efforts in business,  marketing, workforce development, small business 
development, business expansion, etc. are the primary focus of economic development. The intervention 
of government in the various areas is important for its country's economic growth and that can be even 
more faster.


WAYS TO INCREASE ECONOMIC DEVELOPMENT

Here are five such areas where changes in laws could trigger significant improvements in economic 
growth:

• Altering the saving rate for the people as well as the government.
• Reduction in the expenditure on non-plan revenue. 
• Creating policies to raise the rate of productivity.
• Cutting the taxes and increasing government spending.
• Improved education and improved infrastructure.


FACTORS AFFECT ECONOMIC DEVELOPMENT

• Natural Resources
• Infrastructure 
• Population  and Labor
• Transportation and Communications
• Technology
• Law


FACTOR INDICATING ECONOMIC GROWTH

• Here, we shall look at some of the most common indicators of development: 
• Gross Domestic Product (GDP) 
• Gross National Product (GNP)
• GNP per capita
• Birth and death rates 
• The Human Development Index (HDI)
• Infant mortality rate 
• Literacy rate
• Life expectancy rate


Thank You!