Some thoughts on growth and development  Every nation strives for development. Economic progress is merely a component of development but development goes beyond pure economics. In an ultimate sense, development must encompass more than the material and financial side of people’s lives. Development is, therefore, a multidimensional process involving the reorganization and reorientation of the entire economic and social systems.
In addition to improvements in incomes and output, it typically involves radical changes in institutional, social and administrative structures, as well as in popular attitudes and in many cases even customs and beliefs.