This document examines the impact of infrastructure on the Indian economy. It discusses how infrastructure is defined and the objectives and need for the study. The methodology uses secondary data from various sources. Infrastructure is shown to be important for improving living standards, increasing GDP, economic growth, and job opportunities. However, developing infrastructure faces difficulties due to problems in urban and rural areas like power, transport, water and more. The conclusion states that infrastructure development is crucial for India's growth and the government has taken steps to address bottlenecks and encourage private sector investment.
2. Introduction
Infrastructure, in general, defines as a set of facilities
through which goods and services are provided to the
public. Infrastructure is the stock of basic facilities and
capital equipment needed for the functioning of a
country or area; the term to refer collectively to the
roads, bridges, rail lines, and similar public works that are
required for an industrial economy, or a portion of it, to
function.
3. Objectives of the study
To examine the theoretical framework of infrastructure.
To analyse the socio economic relationship between
infrastructure development and economic growth.
4. Need of the study
Every economy either developing or developed has two
kinds of main basic objectives one providing basic
needs and facilities to their population second
achieving higher growth rates. The present paper
provides how infrastructure impacts growth and
development. How infrastructure plays a dynamic role
to fulfil their growth targets as well as achieving higher
living standards of their mass population.
5. Methodology of the study
The present study based on the secondary data, collected from the
different sources like World Development Reports of various years, Human
Development Report of India (2011), majority of data and literature
collected from the existing growth theories, empirical studies. Particularly
this study is not related to any region, state but its concern India’s socio
economic perspective. Why infrastructure is more important other than the
growth determinants and how infrastructure influences the different sectors
of the economy, than it studied the global and Indian experience of
infrastructure and growth through empirical evidences and establish the
relationship between infrastructure and growth.
9. ADVANTAGES OF PROMOTING INFRASTRUCTURE cont…
Country economic growth improves
Improves Job Opportunities
Improves Sector development
10. DIFFICULTIES IN PROMOTING INFRASTRUCTURE
The Urban infrastructure
problems in India are:
Urban residence
Business premises
Power
Urban transport
Water
Airports
Railways
Seaports
Roads
Bridges
Solid waste management
Health care
Entertainment
Communications
The Rural infrastructure problems in
India are:
Power
Irrigation
Drinking Water
Rural housing
Roads
Health care
Education
Telecommunication
11. CONCLUSION
Development of the infrastructure sector is crucial to the growth of the Indian
economy. Sustainable development can only be attained through a careful analysis
of the factors that have mitigated growth in the past, and thereafter, taking the
appropriate corrective measures.
Over the last decade, the Indian government has made significant efforts to
eliminate bottlenecks in these areas. It has initiated policies and schemes such as
ECs/EIs and Model Concession Agreements to increase the inflow of private sector
investments and make the bidding process for projects more transparent.