Correct option is A
The correct answer is (A) Capability Approach
Explanation:
• The Capability Approach was developed by Nobel Laureate Prof. Amartya Sen.
• This approach focuses on what people are effectively able to do and be (their 'capabilities'), rather than just their income or consumption.
• It argues that development should be measured by the expansion of human freedom and the ability of individuals to lead the lives they value.
• Sen’s work was instrumental in the creation of the Human Development Index (HDI) along with Mahbub ul Haq.
Information Booster:
• Four Pillars: Human development is often based on the pillars of Equity, Sustainability, Productivity, and Empowerment.
• Amartya Sen: He was awarded the Nobel Prize in Economic Sciences in 1998 for his contributions to welfare economics.
Additional Knowledge:
• Basic Needs Approach (Option B): Introduced by the International Labour Organization (ILO), focusing on minimum resources like food, shelter, and health.
• Welfare Approach (Option C): Views humans as beneficiaries or targets of all development activities, rather than active participants.
• Income Approach (Option D): One of the oldest methods, linking the level of human development directly to the level of income.