The word 'development' refers to the progress of a particular field or a particular person. The economic progress of a country is known as 'economic development'. The meaning of development keeps changing from time to time and from person to person. This chapter explains how development is understood, how it is measured and how it can be made sustainable.
1. Different Perspectives About Development
Every human being has an ambition to achieve progress in life; similarly, we have ideas about how a country should progress. To different people development means improvement, progress, a way of moving forward, freedom to grow, bettering yourself, not doing the same mistake twice, a never ending process and a part of daily life.
- Other than income, people seek freedom to grow on their own.
- Development refers to the improvement in quality of life – higher income, better education, better health and nutrition, less poverty and more equal opportunity.
- Economic development refers to the overall growth of all sectors of the economy by adoption of new technologies. It improves the living standards of the people as well as the status of the country.