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Economic growth and economic development are two interconnected but distinct concepts in economic policy. Economic growth refers to the quantitative increase in a country’s output of goods and services over time, usually measured by the rise in Gross Domestic Product (GDP) or Gross National Product (GNP). It focuses mainly on the productive capacity of an economy and the expansion of national income. Growth emphasizes the pace of economic activity without necessarily considering the distribution of wealth, access to resources, or the quality of life of the people. For example, when India’s GDP increases due to higher industrial production or rising service exports, it reflects growth, but this does not automatically guarantee improvements in education, healthcare, or living standards. ____ _______ ______ ____ ______ __________.
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