IMPORTANCE OF INFORMATION IN ECONOMIC DEVELOPMENT

1)Being aware of the present condition :

Information helps to get knowledge about the current situation of
the important economic factors. It helps to asses the areas
needed for development
2) Improved quality :

Correct information helps the economists to take necessary

steps . It helps to increase the quality of decisions

3) Better time management:

Correct information helps to take quick decisions . It ensures

better time management

4) Better usage of resources :

Information helps to give a proper knowledge about the resources of

the country. It ensures better management of resources

5) Establishing transparency:

Exchanging of information establishes the environment of transparency

6)Fixing problems :

Correct information is direly needed while facing economic problems .

It paves the way for solving problems
7) Preparing budget :

For preparing budget information of various kinds is a must

BARRIERS TO INFORMATION

1)Lack of skill :

Sometimes lack of skill of the professionals hinder the free flow of

information

2) Multiplicity of language :

Using terms of various languages in a single document create

confusions . It creates problems for the free flow of information

3) Variant styles of presentation:

Lack of uniformity in presentation style may create problems for

information

4)Cumulation of massive amount of information:

The information overload is a huge problem for the free flow of

information

5) Lack of awareness :

Sometimes people do not know about the importance of information .It

is a huge problem

6)Geographical gap :
Sometimes people living in remote areas find it difficult to disseminate
information even in this age

7)Lack of evaluation :

Sometimes the absence of proper evaluation becomes a barrier to

information .