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Economic Growth, Economic Development & Inclusive Development Video Lecture | Crash course for UPSC (Hindi)
FAQs on Economic Growth, Economic Development & Inclusive Development Video Lecture - Crash course for UPSC (Hindi)
| 1. What is economic growth? |  |
Economic growth refers to the increase in a country's production of goods and services over time. It is usually measured by the annual percentage change in a country's Gross Domestic Product (GDP). Economic growth indicates an expansion of the economy and is often associated with factors such as increased employment opportunities, higher income levels, and improved standard of living for the population.
| 2. How is economic development different from economic growth? | |
While economic growth focuses on the increase in the quantity of goods and services produced, economic development encompasses a broader set of factors. Economic development includes not only the growth of the economy but also the improvement in the quality of life and well-being of the population. It considers aspects such as education, healthcare, infrastructure, social welfare, and environmental sustainability. Economic development aims to create a more inclusive and sustainable society, while economic growth simply measures the expansion of the economy.
| 3. What is inclusive development? | |
Inclusive development refers to a development approach that ensures the benefits of economic growth and development are shared by all segments of society, particularly those who are marginalized or vulnerable. It aims to reduce inequalities and promote social justice. Inclusive development focuses on providing equal opportunities, access to basic services, and empowering marginalized groups to participate in the economic and social life of a country. It emphasizes the importance of addressing disparities and creating an inclusive and equitable society for sustainable development.
| 4. How does economic growth contribute to economic development? | |
Economic growth plays a crucial role in economic development as it provides the resources and means to improve the quality of life for the population. Higher economic growth rates result in increased job opportunities, higher incomes, and improved living standards. This, in turn, can contribute to improved access to education, healthcare, and infrastructure, which are essential components of economic development. Economic growth provides the necessary foundation for sustainable development by generating the resources needed to invest in human capital, social welfare programs, and infrastructure development.
| 5. What are the challenges in achieving inclusive development? | |
Achieving inclusive development can be challenging due to various factors. Some of the common challenges include income inequality, limited access to quality education and healthcare, discrimination based on gender, ethnicity, or social status, inadequate social protection measures, and lack of economic opportunities for marginalized groups. Additionally, political and institutional barriers, corruption, and environmental sustainability concerns can hinder inclusive development efforts. Addressing these challenges requires comprehensive policies and strategies that prioritize social inclusion, equitable distribution of resources, and empowerment of marginalized groups.
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Dec 22, 2024 Last updated |
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