1. Economic growth: The term ‘Economic growth’ refers to an increase in real national income of the country and real national income means total output of all final goods and services produced in a country rather than in money terms.
According to J.K. Mehra, “Economic growth indicates the quantitative increase in national income”
2. Industrial Progress: Industrial progress is a very important indicator of economic development of a country. It helps to increase the national output and per capita income in a country. During the Second Five Year Plan, industrial development was the main aim of the government and since then contribution of industrial sector to GDP has steadily started increasing.
3. Per capita income: PCI is the average income per head of population in one year. It is obtained by dividing the national income of a country during a year by the total population of that country.Per Capital Income = National Income / Total Population.