GROWTH vs DEVELOPMENT
I recently came across the news that India is facing a jobless economic growth (http://tinyurl.com/zj52k4p). This means that the economic growth is capital intensive but not labor intensive. The GDP is at an average of 7%, yet unemployment is growing. We have not been able to create enough jobs for the new workforce which is entering into the market every year. What does this indicate about the development of the nation ?
This prompts us to understand the difference between growth and development.
Read more: /https://www.linkedin.com/pulse/growth-vs-development-vijaya-devi-s/