Social Infrastucture Development In India
India’s rise in recent years is a most prominent development in the world economy. India has re-emerged as one of the fastest growing economies in the world. India’s growth, particularly in manufacturing and services, has boosted the sentiments, both within country and abroad. With an upsurge in investment and robust macroeconomic fundamentals, the future outlook for India is distinctly upbeat. According to many commentators, India could unleash its full potentials, provided it improves the infrastructure facilities, which are at present not sufficient to meet the growing demand of the economy. Failing to improve the country’s infrastructure will slow down India’s growth process. Therefore, Indian government’s first priority is rising to the challenge of maintaining and managing high growth through investment in infrastructure sector, among others.
The provision of quality and efficient infrastructure services is essential to realize the full potential of the growth impulses surging through the economy. India, while stepping up public investment in infrastructure, has been actively engaged in involving private sector to meet the growing demand. The demand for infrastructure investment during the 11th Five Year Plan (2007-2011) has been estimated to be US$ 492.5 billion (Planning Commission, 2007). To meet this growing demand, Government of India has planned to raise the investment in infrastructure from the present 4.7 percent of GDP to around 7.5 to 8 percent of GDP in the 11th Five Year Plan. In general, efforts towards infrastructure development is continued to focus on the key areas of physical and social infrastructure.
The present paper gives a short glimpse of the infrastructure development of India. This paper presents a quick profile and prospects of India’s social infrastructure sector. Social infrastructure refers to those factors which render the human resources of a nation suitable for productive work. India is drastically different in terms of how its labor laws are regulated, how its citizens are educated, and how their health is handled. When considering a country to enter into, Staples should evaluate whether the country has an adequate social infrastructure to foster economic growth.
India is reportedly the world's largest and most diverse democracy. “The country has seen remarkable social, agricultural, and industrial progress. Life expectancy has doubled and the specter of famine no longer stalks the sub-continent (Hammond, 2003)”. On the other hand, India (and the south Asian region as a whole) has the world's worst poverty, the most widespread malnutrition, and the most extensive use of child labor (Hammond, 2003). Likewise, social infrastructure plays a major role in economics. The social infrastructure of India will directly impact how Staples is able to operate in India. The infrastructure development of any country includes both economic infrastructure development that is the development of various sectors like Energy , Power , Telecom , Transport (Railways , Roadways , Aviation and Shipping ), InfoTech , Finance , etc. and also the social infrastructures including education and health issues. The Social Infrastructure in India includes the education system in India, health care, the management of the education and health services in India that form the basic social infrastructure definition. The India government looks after the social development in India by careful infrastructure planning and handling the social issues in close coordination. India development is incomplete without social development and that would require focus on the infrastructure strategy for social research India. The infrastructure policy of India needs to be made more comprehensive with major changes in the infrastructure projects taken up in the past and more research behind the project infrastructure so as to yield maximum...
Please join StudyMode to read the full document