Sustainable Development – What is it All About?

In the economic theory of public sector, social and economic development is the process through which an individual, community, country, state, or an agency is developed as per pre-defined objectives and targets. These objectives are mostly set by governments as per their strategy for economic growth and development. Social and economic development are primarily concerned with policies and practices aimed at promoting economic growth and development in the individual’s life as well as in the community and the country as a whole. It also includes economic policies and programs that aim at promoting the responsibility and work ethics of individuals and at increasing the productivity of a country or an organization at the grass root level. It also involves policies and programs that address the basic education, health, social, and educational needs of individuals and families.


The concept of sustainable development is interrelated with global economic growth and development. It aims at ensuring long-term sustainability of the resources upon which human development takes place. Some of the sustainable development topics are inclusive of economic growth and development, reduction of greenhouse gas emissions, creation of economic wealth, and improvement in the quality of life, among many others. The World Bank is one of the organizations that are largely dependent on sustainable development as their policy and practice. The organization, along with various other organizations and partners, has been working towards sustainable development since 1963.

The current progress made in this concept is very vast, with various areas of natural resources being developed and more countries and sectors receiving aid and support for sustainable development. These include the areas of improved nutrition, natural resources management, carbon management, water management, occupational health and safety, and the promotion and protection of the rights of indigenous peoples. Amongst these, the need for increased investment in education and training of the people, rural development, and promotion of economic growth and development, are the most critical. The ultimate aim is to ensure that the natural resources are conserved for future generations.