Q. 255.0( 3 Votes )
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Economic growth is termed as an increase in market value of goods and services produced per capita by the economy over a period of time. Democracy is very much responsible and important for the development of a nation, but it does not guarantee that. It depends on the following factors:
• Education: To increase economic growth, the population of the country must be educated as increased skills by the education will produce more goods and services, resulting in an increase in economic growth.
• Health facilities: There should be adequate health facilities to ensure the good health of the population of the country to increase economic growth.
• Political will or economic priorities: Government should have the desire to spend money on the education and health facilities of the citizens and make policies accordingly.
• Non- discrimination: There should not be any discrimination based on religion, caste, gender etc. and everybody should be provided equal opportunity based on their skills.
• Other factors can be the global situation, cooperation from other countries etc.
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