We thank Mr. Sorabh Bajaj for his contribution towards the official blog of MARC School of BUSINESS. We present to our readers an interesting Article written by Mr. Bajaj.
Mr. Bajaj has been working as Program Management-Customer Advocacy Unisys. He is also a Visiting Faculty for MBA Program at MARC School of BUSINESS. To know more about Mr. Bajaj, please click here. Happy Reading !
It was the summer of 2010 and I had recently laid my hands on a 2 liter power mill. I have been waiting to hit the road and unleash its potential. And the day finally arrived as I decided to travel from Bangalore to Goa via road. Most part of this route (when travelling via Hubli) is ‘The National Highway’ which has been developed as part of Golden Quadrilateral project. Having covered distance of 300 km in less than 4 hours, I was in the awe of the growth that Indian road infrastructure has undergone in last decade. I wanted to share my happiness with my brother, who has been settled abroad for last 8 years, and I told him that “you need to experience this- India is rubbing shoulders against developed nations”.
I was right in claiming India’s victory but partly.
Good road infrastructure expedites the rate at which cargo reaches different parts of country. For example, it would take a truck 8-10 days to transport goods from Bangalore to New Delhi during 1990s and now with improved infrastructure the same distance can be covered in 5-6 days. Now the trucks not only save time but they also consume lesser diesel with the lower wear and tear of tyres because of the good roads. In nutshell, improved road infrastructure helped Indian businesses to be more efficient and the net result was an increase in 9% per annum growth in GDP until recently. The latest statistics (that of 2013) points that India will continue to grow but at rate of 5% to 7%. Let’s see why.
Truck divers as we know are hard working. They made the most of improved road infrastructure and reduced travel time by 40-50%. Their trucks have also undergone technological advancements. But then why it still takes them around 5-6 days of time to cover the distance between Bangalore and New Delhi. The answer lies with our policy makers.
India improved its road infrastructure but she failed to implement much needed reforms such as GST (Goods and Services Tax). A truck carrying goods now drive faster only to be stopped by RTO and interstate revenue officers. GST is meant to replace all indirect taxes levied on goods and services by Indian Central and State governments. GST will not only make transportation of goods more efficient, it will also reduce opportunities of corruption by reducing state-public interactions.
In last decade, India have achieved the growth due to the improvement in infrastructure and the adoption of new technology but there is a limit an economy can grow purely based on the above factors. The next and long term wave of growth is largely depends upon the policy reforms. Until then the road to prosperity will stop short of its objective.
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