2024-03-28
Growth: anything measurable, which increase in size and number. always quantitative
Development: improvement in circumstances and qualitative. transformation from low level of economic activity to higher level of economic activity.
there are changes the country is growing but resources are not being equally distributed among the peoples. for instance -> year 1 -> GDP = 20 billion USD, and year 2 GDP = 24 billion USD. country show around 20% growth. but at same year population is grow from 180k to 230K. -> Casuse every not getting equal growth in their personal income. or this case even can happen if resources not being distributed equally. for instance -> from the 4 billion 10 persons get the 3.8 billion USD.
development in general tends to focus on human. if Humens are not skill full or educated or healthy or has basic necessity, they will not be able to work. even if huge investments are done in infa or ease of doing business. if Humens are skilled than they can go anywhere to find work (within and outside of India). if we only focus on growth and we achieved it but population is not ready to work then we have to import workers from outside and investment will mean nothings as primary motive of investments are not achieved which is to bring betterment to life of the population. skilled workers will find work by themself and will start the circle of progress and development. as -> income -> savings -> investment (bank or population or government by taxes collected from the people or profit earn by the business or FDI) -> increase production -> employment (improvement of quality of life) -> again to income.
Sen modal -> started from employment.
Bhagwati modal -> started from investments.
There is doubted from where we start from investment or employment, the great debate of India. Is growth of GDP is actually improving living standard of common people or are common mass are getting the growth in their hands.
On the other hand, if we only focus on social capita and not give attention to growth ({infra, industries, big business, ports...}), then if any circumstances come under which worker not able to find work outside or have to return to home. there will no means to support them and whole circle of progress will stop.
Even if India reached $5 trillion, but if common mass does not get their proportion $5 trillion mean nothing. we have it but at same time does not have it also. In Mr. MK Gandhi's words, last member of the society also has to get the benefits of the works, where works means from a range of things {development& growth, political and social rights, reforms, security, or $5 trillion GDP or GNP...}. Last person also have to progress, development of every member of the society. which Mr. Gandhi call Sarvodaya. Or in Mr. Modi terms, "Sabka Saath Sabka Vikas".
Additionally, growth should be sustainable. -> growth have to be in long period of time such as 20-30 years. not like there are heavy growth for 5 years but in doing so we destroy the structure of society or environment or biodiversity which after cause lack of growth. but the growth has to be inclusive, every section of society from higher to lowest class or caste people have to incorporated in the growth or getting the benefits of growth. As Mr. MK Gandhi, last person of society should get the benefits of work of {government, non-government...} and progress {economic, social, political...}. under this we can convert our growth into development. -> changing or improving the standard of life our fellow country persons.