Friday, September 22, 2023
  • Home
  • About Us
  • Disclaimer
  • Privacy Policy
  • Contact Us
No Result
View All Result
WORLDHAB
  • Breaking
    • India
    • World
    • Politics
  • Business
    • Finance
    • Insurance
  • Crypto
  • Entertainment
  • Sports
    • Football
    • Cricket
    • Basketball
    • Tennis
    • WWE
  • Lifestyle
    • Fashion
    • Food
    • Health
    • Pets
    • Travel
    • Romance
  • Tech
    • Android
    • iOS
    • Games
    • Laptops
    • Mobiles
    • Gadgets
    • Social Media
  • Breaking
    • India
    • World
    • Politics
  • Business
    • Finance
    • Insurance
  • Crypto
  • Entertainment
  • Sports
    • Football
    • Cricket
    • Basketball
    • Tennis
    • WWE
  • Lifestyle
    • Fashion
    • Food
    • Health
    • Pets
    • Travel
    • Romance
  • Tech
    • Android
    • iOS
    • Games
    • Laptops
    • Mobiles
    • Gadgets
    • Social Media
No Result
View All Result
WORLDHAB
No Result
View All Result

Home » News » 4 ways how democracy plays an important part in the development of an economy

4 ways how democracy plays an important part in the development of an economy

March 26, 2019
in News
Reading Time: 3 mins read
18
0

Democracy – when we hear this term, the first thing that strikes in our mind is the system where the general people rules. Where the people choose a group who is going to govern them and take essential steps to make their life better and progressive. Also, it is the responsibility of the chosen group to provide all the basic amenities to the people and take steps which are going to help them in making their life better and also they can step ahead in their respective lives.

India is the biggest democratic country in the world and with a population of more than 1.2 billion people, the democratic government in India plays a vital role in its development and economic growth. Moreover, it is the democracy of any country that also plays a crucial role in the economic growth of that nation. Both democracy and economic development go hand in hand.

Here, we are going to figure out the ways that how democracy plays a crucial part in economic development –

  • Decisions for All:

Whenever we discuss the role of democracy (Democracy in Hindi stands for जनतंत्र) in the growth of the country, the key point that arises is that whenever any decision is taken by a democratic government, the centre point for that is the entire community, not just a particular group of people. Yes, there are few instances when certain policies are rolled out for specific communities as well, but the majority of the decisions are taken keeping in the interest of all the communities. Whenever any policy or decision is made based upon the interest of all the communities, it brings the better distribution of resources and they can be utilized in the most effective and efficient manner. This helps the government to track the impact of the decision implemented and how much impact does it bring to the overall development.

  • Liberty for Innovation, Trading & Business

Our democracy gives liberty or freedom to most of the things and innovations and trading are among them. If you have an innovative mind and want to create a new technology or a new product and wanna start trading them then there is no one to stop you if it is in favour of all. The business tycoons across the world seek such innovations, technologies, and products and invest money in them. This thing helps an individual or a team to rise and start creating and selling their products and alongside, helps to develop the economic growth of a country too. Utilizing a local made product or technology saves a lot of money that previously went to foreign countries. This indirectly strengthens the economic structure of the country and helps it to collect money via taxations after technology and product selling. That's why for last some months, in India, the government helped several new startups to rise under the “Startup India” and “Make in India” campaign.

  • Non-Violent Means for Economic Development

Democracy provides easy and simple non-violent means for economic growth. Whenever the current economic system or infrastructure do not give the required output or sufficient output then our democracy allows the chosen ones or the government to change the old ways and apply the new system and rules. These changes are made after observing the old system and the average economic growth of every person in India. The changes sometimes are made after wrong observations too which can lead to down economic growth but mostly it helps to raise the development and economic growth and make it stable. Such things in the economic development help the GDP (Gross Domestic Product) of a country to rise as well.

  • Capitalism

Capitalism is a famous economic process, allowed by democracy, which is effective in rendering different measures for welfare such as personal wealth and employment. It is that system or process where the trading and industries are managed and controlled by some private owners in a country instead of the state to make the profit. Capitalism is among those rules which are made and applied for economic development of the country. Alongside, capitalism could also be ineffective if there are some opaque transactions like bribes or if there is some monopoly. To stop such things some laws are made by the democracy to ensure transparency in the transactions and to restrict monopolies to a particular limit.

These are some of the prominent approaches by which any democracy can help in attaining the development of an economy and make it a global superpower.

Share7Tweet5SendShare1Pin2Share
Previous Post

Denmark provides quick loans to the citizens online

Next Post

3 historic sixes by Indian cricketing legends at the ICC World Cup

Chrissy Ryland

Chrissy Ryland

Chrissy Ryland - I'm a freelance writer and blogger from Northern California. I grew up loving all things entertainment and travel and now I am blessed with a career that lets me write about both of those topics along with many others. For inquiries about a story you think I might want to cover, please contact me at worldhab@gmail.com

Related Posts

Telegram Prepaid Task Scam in India

Telegram Prepaid Task Scam Exposed [Pics INSIDE]

September 20, 2023
crypto in entertainment industry

Leveraging Cryptocurrencies for Entertainment: A New Era of Digital Fun

September 19, 2023
safety locksmith service

Ensuring Your Peace of Mind – Choosing a Credible Expert for Safety Locksmith Services

September 10, 2023
business leadership

The role of leadership in business acquisitions: Ensuring a smooth transition

September 9, 2023
how to develop critical thinking

How to Develop Critical Thinking Skills

September 8, 2023
real estate tips

Navigating the Real Estate Market: Tips for Buyers and Sellers

September 2, 2023

Mastering Basic Restaurant Etiquette And Presentation: A Cornerstone Of Free Restaurant Server Training

September 1, 2023

How the Scott Cooper Miami Scholarship Surpasses Others in Florida’s Education Scene

September 1, 2023
Next Post

3 historic sixes by Indian cricketing legends at the ICC World Cup

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

SEARCH

No Result
View All Result

FOLLOW US

Follow our social media pages and get updates quicker than ever.

Facebook Twitter Youtube Instagram

RECENT POSTS

ivf journey

Navigating the IVF Journey: Aastha Fertility Center in Jaipur as Your Beacon of Hope

September 21, 2023
Pandian Stores Kumaran

Pandian Stores Kumaran to join Bigg Boss Tamil 7 as a contestant?

September 21, 2023
Ex-boyfriend of Rachitha Mahalakshmi joins

Bigg Boss Tamil 7: Ex-boyfriend of Rachitha Mahalakshmi joins the show

September 21, 2023
Sonia Agarwal

Bigg Boss Tamil 7: Sonia Agarwal in Kamal Haasan’s show?

September 21, 2023
Places to visit in ECR Chennai

Places to visit in ECR Chennai with family – Check best places to spend in weekends

September 21, 2023
Bhutan Lottery Result

Bhutan Lottery Result 21st September 2023 – Check 11:55 AM, 4 PM, 8 PM Results

September 21, 2023
Raja Rani Coupon Result

Raja Rani Coupon Lottery Result 21sth September 2023 Hourly Update

September 21, 2023
Telegram Prepaid Task Scam in India

Telegram Prepaid Task Scam Exposed [Pics INSIDE]

September 20, 2023
Mrec Max Life Insurance Review, Policy Details, Plan Benefits

Mrec Max Life Insurance Review, Policy Details, Plan Benefits

September 20, 2023
Bigg Boss Tamil Vote Season 7

Bigg Boss Tamil Vote Online Result

September 20, 2023

ABOUT

Founded in 2016, WORLDHAB delivers news from the various niches around the world for the targeted audience. For any advertising queries, contact us anytime.

We got approved in Google news and Bing news in earlier 2016. And since then, we help small businesses to grow their business by improving their website authority.

POPULAR CATEGORIES

  • Business
  • Finance
  • Insurance
  • Bitcoin
  • Entertainment
  • Sports
  • Football
  • Cricket
  • Lifestyle
  • Health
  • Travel
  • Romance
  • Technology
  • Education

FOLLOW

Facebook Twitter Youtube Instagram Pinterest LinkedIn Vimeo

WORLDHAB STATS

  • Monthly Traffic: 50,000+
  • Site Age: 5 Years
  • Google News Approved
  • Bing News Approved
  • Alexa Rank: 912,985
  • Domain Rating: 22
  • URL Rating: 24
  • Domain Authority: 33
  • Page Authority: 38

CONTACT

For Guest posts, Sponsored posts, Advertising enquiries, contact: support@worldhab.com

  • Home
  • About Us
  • Disclaimer
  • Privacy Policy
  • Contact Us

© 2020 WORLDHAB - Premium WordPress theme by VISION.

No Result
View All Result
  • Breaking
    • India
    • World
    • Politics
  • Business
    • Finance
    • Insurance
  • Crypto
  • Entertainment
  • Sports
    • Football
    • Cricket
    • Basketball
    • Tennis
    • WWE
  • Lifestyle
    • Fashion
    • Food
    • Health
    • Pets
    • Travel
    • Romance
  • Tech
    • Android
    • iOS
    • Games
    • Laptops
    • Mobiles
    • Gadgets
    • Social Media

© 2020 WORLDHAB - Premium WordPress theme by VISION.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.