In general, development is the process of improving the quality of human life.Development is a multi-dimensional process involving major changes in social structures, personal attributes and national institutions.
The economic view of development is that it is the capacity of a national economy whose initial economic condition has been more or less static for a long period of time, to generate and ascertain an annual increase in its Gross Domestic Product (GDP) at the rate of 5% to 7%.
Development includes: quantity of resources available, equitable distribution of income, people’s quality of life e.g. access to education, healthcare, employment opportunities, security, etc.
– Development is a multi-dimensional process involving major changes in social structures, personal attributes and national institutions.
– Development is progressive
– The new economic view of development defines economic development in terms of its reduction or elimination of poverty, inequality and unemployment within the context of a growing economy.
Underdevelopment:
This is a state of inadequate development. It is characterized by diverse problems including unemployment, low level of technology and skills, under-utilization of resources, low literacy levels, confusion and ignorance, hopelessness, etc. It affects more than 3 billion people in the world.
Objectives of development
1. To increase availability and widespread distribution of basic life-sustaining goods such as food, shelter, security and health.
2. To raise the standards of living with emphasis on higher income, better education and greater attention to cultural and human values, all of which serve not only to enhance material well-being but also to generate individual and national esteem.
3. Expansion of the range of economic and social choices available to individuals and the nations in order to free them from servitude and dependency.
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