SSC MTS EXAM

Detailed explanation-1: -Take-off occurs when sector led growth becomes common and society is driven more by economic processes than traditions. At this point, the norms of economic growth are well established and growth becomes a nation’s “second nature” and a shared goal.

Detailed explanation-2: -The third significant stage of growth is the stage of take-off. The period of this stage is 20 to 30 years during which the economy development process is automatic and the economy becomes self-reliant. Self-reliance, means that the economy can develop without external assistance.

Detailed explanation-3: -The “Take-off” Stage This is the crucial stage which covers a relatively brief period of two to three decades in which the economy transforms itself in such a way that economic growth subsequently takes place more or less automatically.

Detailed explanation-4: -Stages of Economic Growth and Economic Development Still, most development economists agree that the key stages of development are related to three different transitions: a) a structural transformation of the economy, b) a demographic transition, and c) a process of urbanization.