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A MODEL FOR COST-BENEFIT ANALYSIS WITH SPECIAL REFERENCE TO HIGHWAY PROBLEMS
N S Srinivasan, Satya Muthuswamy
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Abstract
THE NEED FOR A BALANCED GROWTH MODEL IN WHICH LARGE SUMS OF CAPITAL ARE INVESTED IN DEVELOPMENT PROJECTS AT A TIME WHEN CAPITAL IS SCARCE GIVES RISE TO ECONOMIC IMPACT AND COST-BENEFIT STUDIES. THE COST-BENEFIT STUDY GIVES THE PREVIEW PICTURE OF INVESTMENT LIKELY TO BE INCURRED OVER A PARTICULAR PROJECT IN A SECTOR OVER THE ECONOMY AND THE RETURNS OR BENEFITS LIKELY TO ACCRUE TO THE SOCIETY. IT IS THEREFORE A BASIS TO ALLOCATE SCARCE ECONOMIC RESOURCES IN THE BEST POSSIBLE MANNER. THE COST-BENEFIT STUDY IS USED IN THE AREA OF SCIENTIFIC TRANSPORTATION PLANNING WITH REFERENCE TO HIGHWAYS AND HIGHWAY INVESTMENT PROGRAMS. A MODEL IS CONSTRUCTED STUDYING COSTS AND BENEFITS OF HIGHWAY PROJECTS SCIENTIFICALLY, THUS BEING USEFUL TO HIGHWAY PLANNERS IN DECISION MAKING AND IN CHANNELING NATIONAL RESOURCES BENEFITTING THE COMMUNITY AND NATION. /AUTHOR/