Dr Supreet Kaur is presently Assistant Professor in Economics at Khalsa College, Amritsar. She did her B.Sc. (Hons. School) in Econ, M.Sc. (Hons. School) in Econ and doctorate in Economics (under UGC-Junior Research Fellowship) from Punjab School of Economics, Guru Nanak Dev University, Amritsar. A Gold medalist and a merit scholarship holder, she has more than a dozen research papers to her credit, published in reputed journals. Besides, she has presented many papers in national/international seminars and conferences. For the last about five years, she has been teaching various graduate and under-graduate courses in Economics/ Quantitative Techniques. She is life member of Indian Economic Association, Indian Society of Labour Economics and Indian Association for Research in National Income and Wealth.
Former Dean of the Faculty of Economics & Business, Dr Amarjit Singh Sethi is presently a Senior Professor at Punjab School of Economics, Guru Nanak Dev University, Amritsar. Earlier, a member of both Senate and Syndicate of GND University, Prof. Sethi has put in nearly 41 years of Continuous/ Regular Teaching & Research Experience in Different Universities. Having done his M.Sc. and Post-M.Sc. Diploma in Statistics from the IASRI, New Delhi, he earned his doctoral degree in Economics from GND University, Amritsar. A Gold-Medallist, Prof Sethi has been bestowed with the Best Paper Prize Twice: By the Indian Society of Agricultural Statistics, New Delhi (1987-88); and in an International Conference on Shifting Paradigms in Applied Economics and Management: Course Correction (2014).
“Growth is one aspect of the process of economic development. (Sen, 1983, p. 748). Development is multi-dimensional process, involving re-organization and re-orientation of entire economic and social system. It is the most important challenge, and every nation strives for it. During 1950s and 1960s, development was taken as an increase in output, based on the economic efficiency; diverted to distribution aspect of income in the early 1970s and, then, to the sustainable development during 1980s. Sustainable development refers to the process, whereby a nation is enabled to utilize the available resources in a more productive manner, so as not only to ensure a continual increase in the output of goods and services, but also to that the future generations do not remain deprived of the resources (Hogendorn, 1987).