Topic: Indian Economy and issues relating to planning, mobilization, of resources, growth, development, and employment.
4. “We must move away from ‘take, make, use and dispose economy’ to ‘circular economy’”. Describing the concept of circular economy, highlight the steps taken by India to achieve it. (250 Words)
Level: Tough
Reference: The Hindu
Why the question:
The PM in his Davos speech emphasized India’s strength in circular economy and its potential to mitigate the impact of climate change.
Key Demand of the question:
Explain the concept of the circular economy. Giving examples, discuss its utility in India.
Structure of the answer:
Introduction:
A circular economy is a concept describing an industrial economy, which produces no wastes and no emissions through its design, considering all the phases of the life cycle of products.
Body:
The answer body must have the following aspects covered:
Discuss the concept in detail – CE is an industrial system, which is an alternative to the highly extractive and resource-intensive linear economy principle of take-make-dispose.
CE replaces the end-of-life concept and aims at retaining the value of resources, products, and materials at their highest by keeping them in use as long as possible, minimizing wastage at each life-cycle stage, and extracting the maximum value through reusing, repairing, recovering, remanufacturing and regenerating products and materials at the end of each service value.
Explain the opportunities provided by the CE. Discuss the steps taken by India in achieving it e.g. Draft resource efficiency, MeitY had formulated a policy paper titled “Circular Economy in Electronics and Electrical Sector”.
Conclusion:
Conclude with importance.
