Economic Development

Topics: Sri Lanka, Renewable energy, Sustainable development Pages: 7 (1984 words) Published: January 11, 2014
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 better condition than other developing countries. Computer literacy is an essential item for economic development in modern world. But the infrastructure facilities, industries are not at a reasonable level in Sri Lanka. Most of the roads in Sri Lanka are not at a good condition. Because of that travelling time has increased. This is a reason for decreasing the level of transport and economic development. Building of southern express way, Hambanthota harbor will be a great help for the economic development in our country. Industries in Sri Lanka also should be developed in order to become a developed country. Large amount of money can be saved by establishing more and more industries in our country. Establishing industries will improve job opportunities. It will help to increase the level of standard of living of many people. Doing scientific researches in a country and inventing new things helps to develop the economy of that country. So supplying fund for researches in universities will be a great benefit for the economic development of our country. Environmental problems occurred with economic development.

There are many environmental problems in modern world. Most of these are occurred due to the uncontrolled economic development, mainly from industrial development, which is a part of economic development. As an example there has been an uncontrolled economic development in china for 20 years. It has created chronic air and water pollution. In the industrial revolution large amount of carbon dioxide was released to the atmosphere, many trees were cut. At that time coal was the main fuel. Sulphur dioxide was also released in to the atmosphere, which is a poisonous gas which causes acid rains. Because of the carbon dioxide global warm has increased. Emitting of carbon dioxide is still happening all over the world. More and more energy is needed to the economic development. Mainly energy is produced from fossil fuels. Carbon dioxide is emitted, when these...
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