3. Infrastructure of the Indian Economy
Infrastructure is crucial for the economic functioning of a nation, comprising both physical and organizational elements that enhance productivity, trade, and overall quality of life. It encompasses economic infrastructure, such as transport and power, and social infrastructure, including education and healthcare. The chapter discusses the importance, components, challenges, government initiatives, and the role of private sector involvement in infrastructure development.
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What we have learnt
- Infrastructure forms the backbone of the economy and is essential for economic growth.
- There are two main types of infrastructure: economic and social.
- Key components of economic infrastructure include transport, power, communication, irrigation, and banking.
Key Concepts
- -- Economic Infrastructure
- Infrastructure that supports production and business activities, including transport, power, and irrigation.
- -- Social Infrastructure
- Infrastructure that supports human development and welfare, including education, healthcare, and sanitation.
- -- PublicPrivate Partnerships (PPP)
- Collaborations between government and private sector entities to finance, design, implement, and operate infrastructure projects.
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