Roadmap for Answer Writing Introduction Definition of Capital Formation Explain capital formation and its significance in economic development. Role of Savings Introduce the concept of savings as a crucial driver of investment and economic growth in India. Body The Importance of Savings Contribution to Economic Development Discuss how India’s ...
Model Answer India's agriculture sector, contributing 14% to the country's GHG emissions, faces significant challenges. However, traditional knowledge offers sustainable solutions for promoting environmental conservation and agricultural resilience. These age-old practices, rooted in local ecosystemRead more
Model Answer
India’s agriculture sector, contributing 14% to the country’s GHG emissions, faces significant challenges. However, traditional knowledge offers sustainable solutions for promoting environmental conservation and agricultural resilience. These age-old practices, rooted in local ecosystems, can contribute to more sustainable farming practices.
1. Effective Resource Management
Traditional knowledge emphasizes efficient resource management, such as the Kaipad system in Kerala. This unique fish-farming technique uses tidal water for irrigation while integrating rice and fish farming, promoting a balanced ecosystem. This system ensures optimal use of water resources while maintaining agricultural productivity.
2. Rainwater Harvesting
In the face of depleting groundwater resources, traditional rainwater harvesting systems offer a sustainable solution. One notable example is the Zabo System of Nagaland, where a protected forest area on top of a hill collects rainwater, which is then stored in tanks and used for irrigation in the paddy fields below. This system helps conserve water and supports agricultural sustainability.
3. Food Security
Traditional agricultural practices help preserve local ecosystems and enhance food security. The Bari system of Assam, a home garden method, utilizes kitchen waste and fallen tree leaves as manure to grow local crops like jackfruit, banana, and mango. This promotes biodiversity and supports local food systems.
4. Organic Manure
In regions like Kerala, traditional knowledge has fostered the use of organic manure, where farmers mix cow dung, used fuel wood ash, and coconut fiber waste to create chemical-free fertilizers. This practice promotes soil health and reduces reliance on synthetic chemicals.
5. Crop Diversification and Pest Management
The Baranaja system, practiced in the Himalayas, involves growing diverse crops without pesticides, promoting biodiversity and protecting crops from extreme climatic events. Additionally, natural pest management methods, such as using neem-based pesticides, reduce the dependence on harmful chemicals and enhance sustainability.
Conclusion
Reviving and integrating India’s traditional knowledge systems into modern agricultural practices can play a crucial role in enhancing sustainability, protecting the environment, and securing food supplies in the face of climate change. These methods offer valuable lessons for building a more resilient agricultural system.
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Model Answer Introduction Capital formation, which encompasses the accumulation of physical assets like buildings and machinery, is crucial for driving economic development. A significant aspect of capital formation is investment, which can originate from domestic savings or foreign funding. In IndiRead more
Model Answer
Introduction
Capital formation, which encompasses the accumulation of physical assets like buildings and machinery, is crucial for driving economic development. A significant aspect of capital formation is investment, which can originate from domestic savings or foreign funding. In India, the savings rate plays a vital role in facilitating investment and economic growth.
The Importance of Savings
India’s savings rate has contributed substantially to its economic development since the 1960s and 70s, typically hovering around 33% of GDP. This high savings rate enables the transfer of funds from households to businesses, fostering increased output and expansion. However, while savings are essential, they alone do not ensure capital formation or growth.
Other Factors Influencing Growth Potential
Conclusion
While India’s savings rate is a vital component of its growth potential, it is not the sole factor. To fully harness its demographic dividend, India must focus on improving infrastructure, facilitating business operations, enhancing human resources, embracing technology, and fostering stable social and political environments. These combined efforts will create a conducive atmosphere for sustainable economic growth.
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