[pib] National Productivity Week

Mains Paper 3: Economy | Issues relating to planning, mobilization of resources

From UPSC perspective, the following things are important:

Prelims level: Circular Economy, NPC

Mains level: Read the attached story

National Productivity Council (NPC) is celebrating its 61st Foundation Day on 12^th February with the theme “Circular Economy for Productivity & Sustainability”.
NPC observes foundation day as Productivity Day and the National Productivity Week.

Circular Economy

A circular economy is an economic system aimed at minimising waste and making the most of resources.
This regenerative approach is in contrast to the traditional linear economy, which has a ‘take, make, dispose’ model of production.
In a circular system resource input and waste, emission, and energy leakage are minimized by slowing, closing, and narrowing energy and material loops.
This can be achieved through long-lasting design, maintenance, repair, reuse, remanufacturing, refurbishing, recycling, and upcycling.
The circular economy follows the principle of preservation and enhancement of natural capital by controlling finite stocks and balancing renewable resource flows.

Why circular economy?

Circular economy has the potential to increase productivity and create jobs, whilst reducing carbon emissions and preserving valuable raw materials.
It works by extending product life span through improved design and servicing and relocating waste from the end of the supply chain to the beginning – in effect, using resources more efficiently by using them over and over.
The challenge lies in building circular economy knowledge and capacity.

About National Productivity Council

National Productivity Council (NPC) is an autonomous registered society under DPIIT, Ministry of Commerce & Industry.
It is national level organization to promote productivity culture in India.
Established by the Ministry of Industry, Government of India in 1958, it is an autonomous, multipartite, non-profit organization with equal representation from employers’ & workers’ organizations and Government.
NPC is a constituent of the Tokyo-based Asian Productivity Organisation (APO), an Inter Governmental Body, of which the Government of India is a founder member.