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.
