Briefly discuss the concept of economic and social infrastructure

Question – Briefly discuss the concept of economic and social infrastructure.

Answer –

(1) Economic infrastructure

Economic infrastructure refers to all such services, facilities, or activities that serve as a supporting system to the process of economic growth i.e., production and trade of goods and services.

It includes transportation, communication, energy/ power, banking facilities, irrigation facilities

Features

1. It supports the economic system directly.
2. It enhances the quality of economic resources and increases the efficiency of physical capital. Thus, raises productivity and reduces the cost of production.
3. It increases the stock of physical capital assets.
4. It promotes economic development.
5. It increases the standard of life.

(2) Social infrastructure

Social infrastructure refers to all such services, facilities, or activities that serve as a foundation/ supporting system to process social growth or development.

It includes education, health, housing, sanitation and drinking facilities, etc.

Features

• It enhances the quality of human resources and increases the productivity and efficiency of human capital.
• It increases the stock of human capital.
• It promotes economic development indirectly.
• It supports the economic system indirectly.
• It increases the quality of life

Related Questions – 

• Briefly discuss the concept of economic and social infrastructure
• Discuss the importance of infrastructure
• Discuss the main drawbacks of our healthcare system.
• “People living in rural areas do not have sufficient health infrastructure.” Comment.
• Discuss the role of private sector in providing health services in India