Actually the high per capital income is not the only measure of economic development.
There are a number of measures which have been used to estimate the economic development of a country. These measures, in brief, are:
(i) Increase in real GNP.
(ii) Increase in real per capita income.
(iii) Rise in overall wellb eing of the people. (iv) Basic
needs approach.
(v) Human Development index.