DAYALBAGH EDUCATIONAL INSTITUTE

(DEEMED UNIVERSITY)
SEMINAR OF DEVELOPMENT STRUCTURE OF INDIAN
ECONOMY
TOPIC:- ECONOMIC DEVELOPMENT AND ITS STAGES
CODE NO. ABM 502
NAME:- SURBHI KUMARI
CLASS:- B.COM THIRD YEAR
ROLL NO. 1850026
BRANCH:- ADANBAGH
 INDEX
 DEFINITION OF ECONOMIC DEVELOPMENT
 CONCEPT OF ECONOMIC DEVELOPMENT
 STAGE OF ECONOMIC DEVELOPMENT

1. THE TRADITIONAL SOCIETY

2. PRE-CONDITION FOR TAKE OFF
3. THE TAKE OFF
4. THE DRIVE TO MATURITY
5. THE AGE OF HIGH MASS
DEFINITION OF ECONOMIC DEVELOPMENT

Economic development is the on going process under which

the country would we all the available resources efficiently,
resulting national income and for capital income increase
continuously long run by this economic inequality reduces,
standard of living increases and welfare increase.
 concept
Economic development the process whereby simple, low-income national
economies are transformed into modern industrial economies although the term is
sometimes used as a synonym for economic growth, generally it is employees to
describe a change in a country’s economy involving qualitative as well as
qualitative improvements.
Stages of economic development
The traditional society
 Factor of production such as N.L.C.T etc.
 Pre new Toni an science and technology
 Traditional society is a story of endless change reflected in the scale of
manufactures. Fluctuations in populations and real income.
 They did not lack inventiveness and innovations.
 Agriculture absorbed 75% or more of the working force.
 The pre-conditions to take-off
• A change in society’s attitudes towards science, risk-taking and profit. Earning.
• The adaptability of the labour force.
• Political sovereignty
• Development of centralized tax system and financial institutions
• The construction of certain economic and social overheads like rail-roads and
educational institutions.
 The take-off period
 At least one leading sector is required.
 Cotton textiles (Britain and new England) to railroads.
 The united states , France Germany Canada, Russia) to modern timber cutting
and rails roads
 Supplementary sector such as oil, ship building, ;military equipment, imports
substitution industry.
DRIVE TO MATURITYT
This is of course, a long period of self generating and self
propelling economic growth. This rates of saving and
investment are of such a magnitude that economic
development be comes automatic.
 the period when a society has effectively applied the range of modern
technology to the built of its resources.
 New leading sectors gathering momentum.
 Change in society.
 Change in characteristic of entrepreneurship.
 THE AGE OF HIGH MASS
CONSUMPTION
During this stage the per capital real income increases to the
level out which a large numbers of people can ordered
consumption transcending the basic food. Shelter and clothing
requirements. This is tendency for the leading sectors to shift
towards durable consumer goods ad services.
THANK YOU

REFERENCE:-https://
www.britanica.com
https:www.economicdiscussion.
net/articles.