What are the indicators of economic growth?

Indicators of Economic Development are

1. Increase in Literacy Level:

The benefits of economic growth will not spread to all sections population till the population is literate and can use their mental abilities. Knowledge is becoming the most important resource and only those who possess knowledge can earn a decent time,

2. Low growth of population:

As economy develops, rate of growth of population tends to decrease. In underdeveloped countries, rate of growth of population is high as compared to USA, U.K., Japan, etc.

3. Decrease in Inequality of Income:

Income inequality tends to decrease as economic development takes place. Regional differences within the country also tend to decrease.

4. Increase in importance of service sector:

As the economic development takes place, the share of agriculture sector decreases and that of industry and service sector increases in the GDP.