Eco Ch 1 Development

Per Capita Income: The total income of a country divided by the population is called the per capita income of that country. As per the World Development Report, 2006 the per capital income in India was Rs. 28,000 per annum.

Eco Ch 1 Development

Gross National Product: The total income generated in the country is called Gross National Product.

Gross Domestic Product: The total income generated minus the income generated by exports is called the Gross Domestic Product.

Infant Mortality Rate: The number of children who die before completing one year out of 1000 births is called the infant mortality rate. The lesser figure is a better indicator of development. This is an important parameter as it shows the quality and extent of availability of healthcare in a country. As per 2011 census, the child mortality rate in India is 30.15.

Male to Female Ratio: Number of female per thousand male is called sex ratio. A lesser figure shows society’s aversion to a girl child and worse condition of women in society. As per 2011 census, the sex ratio in India is 940 per thousand male.

Life expectancy: The maximum age up to which an adult lives is called the life expectancy rate. This also shows the overall quality of life in a country. As per 2011 census, the life expectancy in India for males is 67 years and for females it is 72 years.

Literacy Rate: The percentage of literate people is another important indicator of development. Education is a big leveler as it opens newer opportunities for the educated person. Especially in a country like India you can see many examples of a brilliant student coming from a lower class family cracking the IITs. Once you are in IIT then you get a bright and secure future for you and your family. As per 2011 census, the literacy rate in India is 74%.

Infrastructure: Roads, railways, airports, ports and power generation are the lifelines of a nation’s economy. A better infrastructure ensures a better economic activity leading to overall prosperity