Q. 24.0( 4 Votes )
Minerals form a part of raw materials to various sectors of the Indian economy. Minerals are the basis of the machinery. Industries cannot manufacture without machinery.
a. Modern day agriculture involves the use of modern machinery like a combine harvester, tractor, thresher etc., which is made up of minerals. Thus, minerals indirectly help to increase agricultural productivity thus increasing the Gross Domestic Production.
b. The by-products of fossil minerals like crude oil, i.e., petrol and diesel as used as fuels for transport and thus help in the transportation of goods and services from one place to another. Thus, these minerals help in the marketing of goods which increases the economy of a country.
c. Natural gas is used as Liquefied Petroleum gas in households and thus it has got the economic significance.
d. The economic development of a country can be measured using Per Capita Income. Per Capita Income is associated with the standard of living of an individual. Standard of living is also measured according to the usage of modern machines like refrigerators, television, washing machine, etc., The manufacturing and running of these are impossible without minerals.
e. Houses are built using concrete; roofs are built using a tin sheet or asbestos sheet for which minerals form the base. Hence, the construction industry uses minerals considerably which again contributes to economic development. It is understood that minerals are the backbone of urbanization.
f. Synthetic fibres are made out of coal or petroleum molecules. These fibres are replacing the natural ones on a large scale. Clothes made using synthetic fibres are even exported to other countries which fetch foreign income thus boosting the Indian economy.
g. Above all, the mining industry contributes significantly to the economic development of our country. The total contribution of the mining industry to the Gross Domestic Production of the industrial sector is estimated to be nearly 10 to 12 percent.
h. The export of mineral ores also contributes to the economic development of our country.
It has become clear that minerals are an indispensable part of the Indian economy.
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