No meaningful economic speech or political speech about growth in the country can ignore the magic word ‘infrastructure’
Lets break the word into Infra and Structure.
Infra means below, beneath
The Structure of any economy is…
3.Tertiary sector (infrastructure)
Infrastructure is a support or acts like pillars to the structure
of the economy.
Infrastructure helps in promoting production activities.
Infrastructure industries are those which help in the growth of other industries.
It helps in raising the productivity in the sectors.
It improves the quality of life of its people.
It does not directly help in promoting goods and services.
Its just a geat help!
2 Types of Infrastructure
a.Economic Infrastructure consists
All these directly supports the economic system from inside.
It improves the quality of economic resources and thus raises the
Production in the sectors.
Social Infrastructure consists of
5. Law and order
Facilities that support the community’s need for
They indirectly supports the economic system from outside .
It improves the quality of human resources and thus improves the efficiency of manpower.
Both economic and social infrastructure are complementry to each other.
Importance of infrastructure is far reaching .
It raises productivity.
It provides employment.
It induces Foreign Direct Investment.
It raises the size of the market.
Social infrastructure raises the ability to work by enhancing their skills through education and health.
It raises economic development e.g. agriculture depends on irrigation facilities
Industrial progress depends on development of power and electricity generation …etc..
The greatest impediment in way of growth is UNDEVELOPED INFRASTRUCTURE!!!!!