| Basis of Comparison | Economic Growth | Economic Development |
| Meaning | It considers the increase in the output of an economy at a particular period of time. | It vonsiders Increase in the Economic gorwth alon with increase in standard of living, Advancement in technology, and increase in HDI and GNH index. |
| Concept | It is a narrower concept considering only the total output of an economy. | It is a bother concept considering the total output along with Welfare of the economy. |
| Nature | Quantitative in nature | Qualitative in nature |
| Scope | Rise in GDP, GNP, FDI, FII, etc., are included. | Rice in life expectancy Rate, literacy rate, reduction in infant mortality rate and poverty rate. |
| Term | Short term | Long term |
| Applicable to | Developed Nations | Developing Nations |
| Measurement | Increase in National Income | Increase in Per Capital Income (or) Real National Income. |
| Ferquency | In a Certain period of time | Continuous process |
| Government Aid | Government support / help / aid / Intervention not required. | Government support / help / aid / intervention is highly requried mainly for policy changes. |
| Wealth Distribution | Equal distribution of income and wealth among the people is not the main focus. | Equal distribution of Income and wealth among and people is the main focus and improving the poor and downtrodden is the primary objective. |
