assess the values of minerals for the social and economic development of India
Answers
Answer:
Explanation:
Mineral resources are amongst the most important natural resources that dictate the Industrial and economic development of a country because they provide raw materials to the primary, secondary and tertiary sectors of the economy.
The Mining industry in India is a major economic activity which contributes significantly to the economy of India. The GDP contribution of the mining industry varies from 2.2% to 2.5% only but going by the GDP of the total industrial sector it contributes around 10% to 11%.
Mineral reserves in the economy mean the ownership of scarce resources and so constitute one form of wealth. ... In most cases, this relationship has been identified as negative and thus higher dependence on mineral resources is associated with lower than average economic growth.
Answer:
Explanation:
Mineral resources are amongst the most important natural resources that dictate the Industrial and economic development of a country because they provide raw materials to the primary, secondary and tertiary sectors of the economy.
The Mining industry in India is a major economic activity which contributes significantly to the economy of India. The GDP contribution of the mining industry varies from 2.2% to 2.5% only but going by the GDP of the total industrial sector it contributes around 10% to 11%.
Mineral reserves in the economy mean the ownership of scarce resources and so constitute one form of wealth. ... In most cases, this relationship has been identified as negative and thus higher dependence on mineral resources is associated with lower than average economic growth.