write any some effects of economic growth on the people of India
Answers
Answer:
Indian economy to rebound with 8.9% growth in FY22. India Ratings & Research said the NSO projections for GDP growth in FY21 mean that the size of the Indian economy is expected to shrink to Rs 134.40 lakh crore in FY21 as against Rs 145.66 lakh crore in FY20.
Economic growth only comes from increasing the quality and quantity of the factors of production, which consist of four broad types: land, labor, capital, and entrepreneurship.
Answer:
Fast growth can create negative externalities e.g. noise pollution and lower air quality arising from air pollution and road congestion.
Increased consumption of de-merit goods which damage social welfare.
The huge increase in household and industrial waste.The benefits of economic growth include. Higher average incomes. Economic growth enables consumers to consume more goods and services and enjoy better standards of living. Economic growth during the Twentieth Century was a major factor in reducing absolute levels of poverty and enabling a rise in life expectancy..
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