What is Development? Mention the Two Aspects of Development

By K Balaji|Updated : November 9th, 2022

Development is a process which creates growth, brings progress and positive changes. Development is a healthy sign.

Two aspects of development are

  • Either an increase in income or the economy.
  • Health, public service delivery, and literacy are all examples of social progress.

Amartya Sen, a well-known Nobel laureate, defined development as a tool that allows individuals to perform to the best of their abilities by allowing them freedom of action, including freedom to engage in economic, social, and family activities, among other things.

Factors Which Leads to Economic Growth

  • Human resources - Human resources are in charge of accelerating a nation's economic expansion. The rate at which a workforce's skills and capacities are developing ultimately boosts a nation's economic development.
  • Infrastructure development - By lowering the cost, upgrades and greater investment in tangible assets like factories, machines, and roads would boost economic output performance.
  • Use of natural resources wisely - The economy is more productive when natural resources, such as mineral deposits, are used properly and wisely.
  • Healthy population growth - As the population increases, more human resources become available, which increases the output's capacity to produce more goods and services. This is another crucial element that affects economic expansion.
  • Technology advancement - A nation's economic growth will be positively impacted by technological advancement. Utilizing cutting-edge technology will increase labour productivity and accelerate economic growth at a cheaper cost.

Summary:-

What is Development? Mention the Two Aspects of Development

Development is a process which creates growth and brings progress with a positive change. The two aspects of development are - increase in income and social progress.

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