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Macro Economic Variables: Impact on the Economic Development of the Country

As the process of economic growth is a continuous process, it needs to create chain reactions of such forces which may set in motion the process of income generating in the economy. This gigantic task of economic development, therefore, can be influenced by a groups of factors-economic, social, political, technological and administrative etc. In recent years underdeveloped countries have made concerted attempts to develop with the objective of narrowing down the gap that presently exists between them and the developed countries. Having detailed the serious impediments in the path of economic development and factors for the constant poverty of under developed countries, one logical question arises automatically as to what are the factors governing economic development of a country? In simple words, the answer to this very question implies that stupendous efforts should be made to remove the bottlenecks of underdevelopment or strongly defeat the forces of stagnation. In this research paper an analysis has been made to understand the various macro economic variables and their impact on the economic development of the country.