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State the limitations of Economic growth.

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Limitations of the concept of economic growth:

  • Economic growth takes into consideration only the quantitative change.
  • In Economic growth, there is a rise in ‘national income’ and ‘per capita income’ only. Important aspects such as rise in institutional and psychological factors do not show any rise.
  • The concept of economic growth is narrow and reflects only the rise in the rate and extent of output.
  • The concept of economic growth is not of much use in understanding the welfare of the people.

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