• Economic progress means change in price of merchandise and suppliers over time normally for a interval of 1 yr. Economic progress means modifications inside the socio-economic development of nation that pertains to progress to human development indexes (HDIs), decrease in equality, modifications ins way of life of public.

• Economic progress is measured via gross dwelling product (GDP), GDP per capita, gross nationwide product (GNP), and net nationwide product (NNP).Economic development is measured via human development index (HDI), gender-related index (GDI), human poverty index (HPS), literacy payment, toddler mortality, socio-economic development.

• Economic progress brings solely quantitative modifications inside the monetary system whereas monetary system development brings every qualitative and quantitative modifications inside the monetary system.

• To measure the effectivity of two worldwide places monetary progress is used as a parameter whereas monetary progress is simply used to measure the progress of making worldwide places or nations.

• Economic progress provides with the change inside the nation’s monetary system output whereas monetary development provides with the structural modifications inside the monetary system.

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