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.
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