Sri Lanka, March 5 -- Social costing refers to the indirect expenses borne by society as a whole due to various activities or behaviours that impact public welfare. In economically developed countries, social costing is carefully considered in policymaking and infrastructure development to ensure the efficient allocation of resources and the well-being of citizens. One area where social costing is particularly evident is on the roads.

The bustling traffic and myriad activities on roads contribute significantly to social costs, affecting not only those who use private vehicles but also individuals who rely on alternative modes of transportation or do not drive at all. From traffic congestion to accidents and environmental pollution, the r...