ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Growth creates wealth, some of which goes directly into the pockets of employers and workers, improving their wellbeing. As people earn higher incomes and spend more money, this enables people to exit poverty and gain improved living standards.

Detailed explanation-2: -Creating more jobs and more job variety. Keeping businesses and getting new ones. A better quality of life. More people and businesses paying taxes.

Detailed explanation-3: -Economic growth generates job opportunities and hence stronger demand for labour, the main and often the sole asset of the poor. In turn, increasing employment has been crucial in delivering higher growth.