BASIS FOR COMPARISON

ECONOMIC GROWTH

ECONOMIC DEVELOPMENT

Meaning

Economic Growth is the positive change in the real output of the country in a particular span of time.

Economic Development involves rise in the level of production in an economy along with the advancement of technology, improvement in living standards and so on.

Concept

Narrow

Broad

Scope

Increase in the indicators like GDP, per capita income etc.

Improvement in life expectancy rate, infant mortality rate, literacy rate and poverty rates.

Term

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