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

Why in News?

• 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.

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.