From 2022, after my father retired, my parents started living in a remote town in Odisha, named Deogarh.
Despite being a district in itself, 10 years ago Deogarh didn't even have a proper bus stand. It was as underdeveloped as any backward town of India. In fact, it felt more like a village.
But in 2022, when my parents inaugurated our new home there, I went there to live after many years, and I was surprised to see the pace at which the place is growing.
In fact, now, every time I go home, I see some new development happening in the town.
And that's when I realised the importance of a proper transportation system.
The reason Deogarh was backwards was because it lacked a proper transportation system. It doesn't have a railway station, and till 10-15 years ago, it had awful roads, the worst you could imagine!
While building a railway station is a more difficult and longer process, since railway tracks have to be built and they have to be properly connected with the rail network, building roads and improving older roads is comparatively easier.
And that's what happened in Deogarh.
Over the last 10 years, there has been a significant increase in the number and lengths of highways in India. Many villages which didn't have bus facilities, started getting buses.
Remember, in any economy, transportation works as the nervous system.
When highway networks in the country improved, goods started reaching remote places in India easily. Easier movement of goods results in faster consumption, more demand. And when high demands meet an increasing amount of supply, which was also growing in the country rapidly, then we start fueling the economy faster.
Also, good transportation means people could travel in and out of towns easily. So, people from remote places could go out for work more comfortably, and people from cities could go to remote places without much hesitation. This made the exchange of ideas more accessible to all the places.
And all these things improved places like Deogarh.
You must have witnessed a significant rise in the stock market in India in the last 5 years. Nifty and Sensex have nearly doubled. A significant part of this growth came from the phenomenon I just mentioned.
#transportation #roads #economics #economy
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