Rostow's Model of Economic Growth #upscpreparation #ugcnet #economics #baeconomics #indianeconomics

[0:00]Walt Whitman Rostow ek American economist the, jinhone economic development ko five stages mein divide kiya tha. Unka kehna tha ki har country in stages se hokar hi develop ban sakti hai. Let's understand these stages in simple manner. These five stages are traditional society, pre-conditions to take off, take off, drive to maturity and high mass consumption. In the first stage population mainly agriculture par depend karti hai. Society less developed hoti hai in terms of science and technology. Log manually kaam kar rahe hote hain. Labour productivity bahut kam hoti hai aur trading bhi bahut kam hoti hai. Second stage mein economy mein transition dekha jata hai. Rate of saving and investment badhne lagte hain. Aur transport and communication mein development hota hai. Third stage mein development tezi se hota hai. Industry rapidly grow karti hai. Naye jobs bante hain aur economy mein bada change aata hai. Naye sectors grow karte hain aur economy self-sustained banti hai. In stage of drive to maturity, there is improvement in technology and innovation. Economy diverse ban jati hai. Logo ka standard of living improve hone lagta hai aur sectors mein growth hoti hai. Last stage is the most advanced stage. Jab log basic se zyada luxury goods consume karna start kar dete hain. Like cars, gadget, tourism, etc. For example, USA, Japan jahan log Netflix bhi use karte hain aur Tesla bhi. So aap bataiye ki India kon se stage mein like karta hai? Comment karo aur share karo sab students ke sath. If you like these kind of shots, hit the bell icon and subscribe this channel.