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 12th February with the theme “Circular Economy for Productivity & Sustainability”.
- NPC observes foundation day as Productivity Day and the National Productivity Week.
- 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.