Economic Growth and

Economic Development
Presented by
GROUP-C

– (38) Keithelakpam Lingjeleima

– (17) Waikhom Roshni Devi
– (24) Syed Farhana
– (45) Moirangthem Amarjit Singh
– (10) Sapam Sarban Singh
– (3) Soiraisham Tarunjit Singh
– (31) Yumnam Bony
Economic Growth

• Economy growth can be defined as an increase in the

capacity of an economy to produce goods and
services compare from one period of time to another.
Factors of Economic
Growth
There are 4 factors that determine economic growth.
They are:-
a. Natural Resources
b. Human Capital
c. Capital Goods
d. Entrepreneurship
Economic Development

• On-going process
• Efficient use of all available resources
• Reduces economic inequality
• Increases standard of living
• Increase in employment
• Increase in health facilities
• Welfare increases
Factors Affecting Economic
Development
Economic Factors Non Economic Factors

• Capital Formation •Human Resources

• Natural Resources •Technical Know-How and
• Marketable Surplus General Education
of Agricultural •Political Freedom
Products •Social Organizations
• Conditions in Foreign •Corruption
Trade •Desire to Develop
• Economic system
Difference between ED & EG

Economy Development Economy Growth

It is a process It is a occurrence

Here quantity and quality both Only quantitative change occur

change occur
Question of utilization of Here emphasis is on
unutilized resources occur distribution of available
resources
Some Key Highlights of
Indian Economy
• India ranks second in agriculture and farm output.
• The GDP grew at 6.3% in the second quarter of 2017-
18.
• Growth for 2018-19 is forecasted at 7.4 % by the IMF.
• Exports are expected to grow at 15 % in 2017-18.
• Fiscal deficit target for 2018-19 is set to at 3.3 % of
the GDP.
• Fiscal deficit for 2017-18 is revised to Rs 5.95 lakh
crore at 3.5 % of the GDP.
Conclusion

• Ingredient for higher income and higher living

standard.
• Increases the GDP of the country.
• Promote the standard of living and economy
health.
Thank You