tant growth from a stagnant state to a higher level of equilbrium. It implies changes in income, saving and investment along with accelerating changes in socio- economic structure of a country. Economic Development is concerned with whole changes in the economy and brings both qualitative and quantitative changes and mainly refers to the problem of developing countries. It relates to the utilisation and development of unused resources in underdevloped countries. After the mid-1980s India began opening up its market slowly through economic liberalization and this policy played a huge impact on the economic development of India. The Indian economic development got a boost through its economic reform in 1991 and again through its renewal in the 2000s. Since then, the whole scenario of economic development of India has changed dramatically. http://www.business.mapsofindia.com

Economic growth is a narrower concept than economic development. As earlier we stated, its termed as an increase in the real level of national output but this can only be caused by an increase in quality of resources, such as education, increase in quantity of resources and improvements in technology or increase in the value of goods and services produced by every sector of the economy.In Malaysia for example, Prime Minister Abdullah, after coming to power in 2003, has tried to develop economy of this south Asian country by introducing value added production. He took a number of measures to introduce hi-tech technologies and urged investments in high technology industries, medical technology and pharmaceuticals. www.economywatch.com

Economic development is a normative concept. According to Michael P. Todaro,an American economist, economic development is an increase in living standards, improvement in self-esteem needs and freedom from oppression. http://www.diffen.com/. Malaysia economic development is one of fastest and steady in global economic scenario. Malaysia GDP per capita has been estimated to be $14,700 in fiscal year 2009. https://www.cia.gov/.