Q. 255.0( 3 Votes )
Name the factors on which economic growth of democracy depends.
Explain the relationship between democracy and development.
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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