Economic Growth vs Economic Development | JGU

Description

“Economic Growth and Economic Development are closely related but fundamentally different concepts. While growth focuses on increasing a country’s income and production, development looks at the overall improvement in the quality of life.

Economic Growth = Rise in GDP and national income (quantitative).
Economic Development = Better health, education, and living standards (qualitative).
Growth can occur without benefiting all citizens.
Development ensures inclusive and sustainable progress.
Growth is short-term; development is long-term.

At Jindal Global University (JGU), students gain deep insights into both, preparing for careers that shape economies and societies.”