Economic Development versus Economic Growth

	Economic Development	Economic Growth
Growth:	Development relates to growth of a stationary state to a higher level of equilibrium	Growth relates to a steady ,general and gradual increase in the rate of sayings and output and investment
Definition:	Economic Development refers to the problem of Developing countries	Economic Growth refers to Developed countries
Effect:	Brings both qualitative and quantitative changes in the economy	Brings quantitative changes in the economy
Scope:	It is concerned with whole changes in the economy	Growth is concerned with small changes in the economy
Implication:	It implies changes in income,saving and investment along with progressive changes in socio-economic structure of country(institutional and technological changes)	It refers to an increase in the real output of goods and services in the country like increase the income in savings,in investment etc.
Utilisation:	Economic Development relates to the utilisation and devlopment of unused resources in the underdeveloped countries	Economic Growth relates to optimum utilisation and development of under-utilised resources of developed countries