Infrastructure refers to all such activities services and facilities that are needed to provide different lands of service in an economy. It includes services like railway roads irrigation public utility communication and so on. In our India, it is very important to improve this to maintain the wealth and power of every place, like hospitals, schools and colleges. This plays a very effective key role of an economy in the urban areas as well as rural areas. It is more important to maintain the rural areas especially. So let’s discuss about the different kind of it.
It is categorised in these two:
- Economic infrastructure: it includes such elements of infrastructure which are essential for the development of the economy. it includes transportation, communication, electricity, Science and Technology and financial distribution.
- Social infrastructure: it includes such services and provisions which improves the quality of resources and the standard of living. Its accelerates the Human Development. It includes education health housing etc.
Importance of Infrastructure
- Increase productivity: the productivity of economy directly depends upon the infrastructure. A well developed infrastructure always accelerates the production capacity of of the economy.
- Provides employment opportunities: development of infrastructure facilities increases the employment opportunities in an economy. Example, constructions of road requires manpower and hence it creates employment opportunities.
- Promotes economic growth: the growth of an economy depends upon many factors such as production capacity, human capital formation, quality-of-life etc. So, in order to promote and enhance the above factors are well developed infrastructure facilities are mandatory.
- Improve the quality of life: proper education health care facilities and standard of living comprises the quality of life and socialist this mainly focus on the sectors only.
- Facilitates outsourcing: a country with well-developed infrastructure facilities always becomes a centre of outsourcing work. from the past few years, India is emerging as a global destination of business process outsourcing Call Centres etc.
- It facilitates The functioning of an economy in order to operate and work with full episode and see the economy leads well developed. infrastructure facilities such as proper communication facilities transportation facilities electricity banking etc.