Multiple choice

One of the challenges that the Indian economy faces today is lack of 'social overhead capital'. What does social overhead capital mean?

  1. Social responsibility of the corporate houses

  2. Infrastructure

  3. Retirement benefits to the employees

  4. Participation of women in economic development
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B Correct answer
Explanation

Social Overhead Capital comprises of such industries which help in the growth of other industries. Social overhead capital or infrastructure as it is now called, includes such industries like railways and other means of transport, electricity and other sources of energy, communication, banking, etc. Unfortunately not much attention was paid to this during the British rule and consequently the development of industries in India remained slow and tardy.

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