Economic Development

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Economic development
Economic development is the development of standard of living of humans. Development in infrastructure, health, industry, education, and financial institutions are parts of economic development. Average income of a person, life expectancy at birth, literacy rate, etc. are measurements of economic development. In order to increase the standard of living infrastructure facilities should be developed. Developments in roads, irrigation systems are a part of economic development. Education increases the living condition of humans. Because of that development in education is essential for economic development. Good health facilities are essential for a better standard of living. There isn’t a use of money if the health facilities are not at a good condition. Developments of industries like agriculture, engineering related industries plays a major role in economic development. According to above measurements rich countries like Saudi Arabia are not considered as an economically developed countries. Living conditions of those countries are not at a good condition. Many countries in Europe and North America are considered as economically developed countries. Asian countries like Japan are also considered as economically developed. Countries like china, India, Brazil are developing fast. They have a strong industrial system most of the countries are importing goods from china. These countries will control global economic soon. Many things can be learnt from these countries to become a developed country.
When considering about the Sri Lanka, Sri Lanka is not considered as an economically developed country. Total income of Sri Lanka should be increase to become a developed country. Health facilities and education facilities in Sri Lanka are at a reasonable level. Establishing of free education increased the level of literacy in Sri Lanka. It will be a great benefit for the development of Sri Lanka. Computer literacy in Sri Lanka is also at a

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