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Development is one term which is defined, re-defined and refined by the academicians and practitioners. For quite some time development meant wealth. It was in the early nineties that Professor Mehboob-ul-Haq and Professor Amarthya Sen contested this longstanding theory and argued that though income is important while defining development, it is not just income but there are various other aspects such as education, health etc. which are to be considered. Haq defined development as 'expansion of choices'. The two economists gave a framework (Human Development Index) using certain important and measurable indicators such as income, literacy and health of people. Through this method, nations are being ranked since nineties. there have been improvements and refinements of the method. Various other aspects such as gender equity and equality, energy, infrastructural facilities etc. are being considered while measuring development. Of late, ecology and environment are being considered as important aspects while determining the development of a nation.