Ideas of Development: Introduction

Development is a  means to progress towards achieving a certain goal. All these goals are different for different groups of people.Ideas of development involves any area of specialization, for example, finance, health or education.

The four main theories of development are, dependency, modernization, globalization and world-systems.

Economic development means the creation of wealth where community benefits can be realized. It is not a job program. Rather,it is an investment to grow the economy and to enhance the quality and prosperity of life.

The important characteristics of the Indian economy are the high rate of population growth, low per capita real income, agro-based economy, endless poverty, overpopulation, poor infrastructure development and destruction in capital formation etc.On the other hand, few positive aspects of Indian economy are , in India the cost of living is lower than the USA, many well-educated technology workers are from India and English is considered as India’s official subsidiary language.