| Sr. No. | Economic Growth | Economic Development |
| i. | Economic growth means an increase in the real national income of the country. | Economic development implies economic growth along with progressive changes in certain areas which determine the well being of the people. |
| ii. | It is narrow in scope and has a quantitative dimension. | It is wide and broader in scope and has a qualitative dimension. |
| iii. | Economic growth is possible without economic development. | Economic development is not possible without economic growth. |
| iv. | It is relevant for developed countries wherein the quality of life is highly developed. | It is more required in less developed countries (LDC’s) as development can result in improved standard of living. |
| v. | Here, more priority is given to the production of goods and services. | Here, more priority is given to the distribution of goods and services. |
| vi. | Here, the share of agricultural sector is more in National Income. | Here, the share of industrial and service sector is more in National Income. |
| vii. | It is one dimensional concept as it considers only economic factors. | It is multi‐dimensional concept as it considers both economic as well as non‐ economic factors. |
