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| Abstract : |
| In the literature, economic development has been defined as “a process of improving the quality of all human lives’(Todaro, 1994), which emphasizes three important aspects: raising income and consumption; fostering self-esteem through institutions that promote human dignity and respect and increasing people’s freedom”. Nobel laureate Professor Amartya Sen, (1999) is of the view that development is actually a process of expanding real freedoms that people can enjoy through (i) political freedoms, (ii) economic facilities, (iii) social opportunities, (iv) transparency guarantees and (v) protective security; which help progress the general capability of a person. Another Nobel laureate of Bengal, versatile Rabindranath Tagore expressed the idea of ‘freedom’ in his words as: “the departure of the foreign rulers would not give us freedom which should be made meaningful by rural reconstruction.” |
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