NCERT Class 10th Economics Chapter 1 Development Notes by Vibha Maam CBSE | English

Development

It means a positive change in a person’s life or in society.

 Aspects of development 

• Different people may have different development goals, they seek things that are most important for them which can fulfill their aspirations and desires.
• development for one may not be the development for others. it can be destructive or conflicting for the other.

Developmental goals

 Depend on material goals and non-material goals. 

• Material goals like income, good standard of living 
• Non-material goals like freedom ,security, satisfaction ,equal treatment, ample opportunities, respect.
• National development

The quality of our life depends on both National and non National goals that are not easily measured but mean a lot to our lives. it is measured by average income or per capita income.

people look at a mix of goals for development .The developmental goals that people have are not only about better income but also about other important things in life.

For comparing countries, their income is considered to be one of the most important attributes.

Difference between the criterion used by the UNDP and the World Bank

 The  UNDP compares the development of the countries on the basis of the literacy rate, gross enrolment ratio and health status whereas the World Bank compares on the basis of per capita income or average income.

 UNDP provides rank to the countries as first, second, third whereas World Bank divides into three categories like rich, middle, and poor countries.

 What is HDI?

 Human Development Index is the tool developed by the United nation to measure a country’s overall achievement in its social and economic dimensions .

The three  variables of the human Development Index are long and healthy life, knowledge ,a decent standard of living.

Classifying countries (per capita income criteria of World Bank)

Average Income is the total income of the country divided by its total population. it is also called per capita income.

      AI = TI / TP

Limitation of average income

It hides the disparity of individuals.

GDP

Gross Domestic Product (GDP) is the total market value of the goods and services produced within a country in a specific duration of time .It indicates the economic health of a country as well as specified in the living standard of the people.

India’s current GDP Rs.195.86 lakh crore (US$ 2.71 trillion)  in 2020-21

• Rich countries:-  US $12,056 per annum or above in 2017
• Low -income countries:- US $955 for less in 2017.

India comes in the ‘low- middle- income countries’ category because its per capita income is Rs1,35,850 in 2017.

Income and Other Criteria

besides income, infant mortality rate, literacy rate and net attendance ratio are other important attributes of the nation’s development