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Economic Development normally refers to the continued, concentrated proceedings of politicians and communities that uphold the level of affluence and economic fitness of a particular region. Such deeds can engage manifold parts as well as growth of human capital.
Economic development is different from economic growth. Economic development is a strategy involving venture with plans of economic and social comfort of people whereas economic growth is an incident of market productivity and an increase in GDP. Thus, as economist Amartya Sen submits as “economic growth is one aspect of the process of economic development.”
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