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Uttarakhand economy mainly relies on tourism Industry. Uttarakhand, being situated on the foothills of Himalayas, comprises of numerous hill stations which attract tourists from all across the globe thereby bringing Money to the state. Apart from the hill stations, the wildlife have also been a major attraction for tourism as tourists come to visit the wildlife sanctuaries such as Corbett National Park and the famous Tiger Reserve. The total number of tourists to visit Uttarakhand as per the census of 2006 were 19554717.
The next most important contributor to the economy of Uttarakhand is the agricultural sector. As per the census of 2002-03, around 5671704 hectares of land was cultivated. Cereals, pulses, oil seeds, sugar cane and onion are the major crops grown here. Since majority of the Population of Uttarakhand is occupied in agricultural sector, agriculture has to be among the top contributors of revenue in Uttarakhand economy.
Another important component on which the economy of Uttarakhand depends is its mineral Resources. The state consists of large resources of Minerals such as limestone rock phosphate, dolomite, magnesite, copper graphite, soap stone, gypsum and many others. Many of these minerals are exported out of India thereby fetching the Uttarakhand economy more revenue.
Uttarakhand economy also relies upon its small scale industries though they don’t offer high revenues. The state has all total 28249 small scale units and 397 Gramodhyog Units. The beautiful state also has 191 heavy industries that are earning a profit of Rs.2694.66 crore.
Another component that is spreading its wing in Uttarakhand and is about to add lots of revenue to the Uttarakhand economy is the real estate. With more and more real estate agents eying on the picturesque locations of Uttarakhand, the day is not far away when real estate would be one of the major forces in determining the net flow of economy of Uttarakhand.
Mineral Resources
Mineral resources of Uttarakhand plays a significant role in the economy of Uttarakhand. Although, the mineral resources of Uttarakhand are not as varied as that of Bihar or Orissa; yet mineral resources at Uttarakhand largely contribute towards the economic well being of the state.
The Chamoli district of Uttarakhand is especially famous for housing a number of mineral resources in Uttarakhand. The northern division of the district consist entirely of medium to high grade Metamorphic Rocks, which also contains bands of volcanic rocks in some areas; the southern division contains sedimentary and low-grade metamorphic rocks, with bands of volcanic rocks in some regions.
Although much is not known about the geology of the first division of Chamoli, yet the mineral resources contain rocks such as quartzite, marble, and various types of schist and gneiss. The southern division contains rocks such as gneiss, limestone, phyllites, quartzite, sericite-biotite schist and slate.
Industries
Industries of Uttarakhand form the basis of the economic set up of Uttarakhand. The State Industrial Corporation of Uttarakhand has developed seven industrial estates; and thus it is helping the industries of Uttarakhand to develop further.
Industries in the perspective of today’s world plays a large role in the consolidating the socio-economic rubric of a state. Previously, agriculture used to the basis of the economic set up, but after the Industrial revolution, agriculture has taken a back-seat.
In this respect, industries in Uttarakhand are the means of resurgence in the economy of Uttarakhand. In fact, it is the industries that is helping the government of Uttarakhand to compete with the other States.
Uttarakhand, nestled in the foothills of the Himalayas, houses a lot of mineral resources which largely contribute towards the industrial development of the State.
Real Estates
Real estates have become a happening sector in Uttarakhand, as well as in India, after the real estate boom in 2005. All the three segments of real estate, namely residential, commercial and retail, are working wonders in the economy of Uttarakhand.
Since the year 2005, India has seen a considerable hike in the demand for real estates in Uttarakhand. With the infiltration of the NRIs, the real estate business in India has taken a tremendous up swing; due to the increase in Indian real estate market, Uttarakhand real estate market is soaring upwards.
This boom in the real estates of Uttarakhand have led the builders like Unitech, and the others to buy huge lands in northern India, including Uttarakhand, to develop residential and commercial properties there.
In fact, with the help of these real estate agents, one can buy centrally air-conditioned apartments, or precisely speaking sophisticated apartments, enabled with all the hi-tech gadgets in every corner of the State.
Fishing
Fishing is an important part of the economy of Uttarakhand. Apart from agriculture, industries and tourism, fishing also plays an integral role in the economy of the State.
The geography of Uttarakhand presents topographic variations in many parts of the state, which hinders the prospects of agriculture in Uttarakhand. Agriculture in many parts of Uttarakhand seems to be a nightmare to the inhabitants.
In such an instance, fishing seems to be the most convenient option for the people residing in Uttarakhand. Moreover, many regions of Uttarakhand have ample number of lakes that largely contributes towards the fishing industries.
Among the important fishes found in Uttarakhand are:
- Mulley
- Monstrous Goonch
- Tengra
- Butchwa
- Indian Trout etc.
Foreign Investments
Opportunities for foreign investments have increased in Uttarakhand with the Growth of its industries. With the growth of the industries, foreign Investment in Uttarakhand has become an active domain. Foreign investment is defined as the investment made to acquire lasting interest in enterprises outside one’s own economy. In this context, it can be said that with growth of the economy of Uttarakhand, NRIs are taking a keen interest in the Uttarakhand’s foreign investment.
Talking about foreign investment of Uttarakhand, it can be said that foreign investment consists of a parent enterprise and a foreign affiliate that form a transactional corporation. Moreover, in order to qualify as Foreign Direct Investment, the investor must afford the parent enterprise control over its foreign affiliate: this rule of foreign investment is also applicable for the foreign investment in Uttarakhand.
Tourism
The Himalayan region of Uttarakhand is a popular tourism destination which possesses Alpine conditions represented by cold winters with
prolonged snowfall, considerable rainfall in the monsoon and pleasant summers. This Climate is the most significant factor in providing the state with its only livelihood, that is tourism.
The scope of tourism is considerable in this state, whether it is nature, wildlife, adventure or pilgrimage. The most popular destinations in Uttarakhand are:
- Haridwar
- Rishikesh
- Dehradun
- Mussoorie
- Almora
- Kedarnath
- Badrinath
- Yamunotri
- Gangotri
- Nainital
- Ranikhet
- Pithoragarh
If you are adventurous and prefer to face a few thrills, you can opt for high- and low-altitude trekking, river rafting, para gliding, hang-gliding, mountaineering, skiing and similar other alternatives.
Agriculture
Conventional Himalayan agriculture is being destroyed by market stresses, introducing both economic and cultural modifications in Uttarakhand. Ancient self-sufficiency has been replaced by dependency on imports from the plains, with their pesticide or chemical fertilizer-enhanced products. Cultural domination from the plains also poses a threat to the usual foods as an increasing preference for mill-polished rice is triumphing over mountain crops. Activists in the hills have responded with a ‘Save the Seeds’ campaign and are generating awareness about the necessity for Biodiversity-2/”>Biodiversity in agriculture.
Agriculture takes place in the river valleys of Uttarakhand (a meagre 10-15% of the total land area). Over time, several slopes have been shaped into field terraces, a common trend in mountain agriculture everywhere. The Uttarakhand farmers have also developed advanced manure, Crop Rotation, and inter-Cropping practices. Most land along the slopes remains unirrigated.
The judiciary of Uttarakhand is the continuation of the British Legal system established during the 19th century. Moreover, the Judiciary, the Executive and the Legislature are the three major constituents of the administration of Uttarakhand.
Initially, the judiciary of Uttarakhand, or broadly speaking the judiciary of India, was based on Kautilyas ‘Arthashastra’. But with the expansion of the British colony in India, the policies of Arthashastra got replaced by the ‘common law’ proposed by the British Empire.
,
Uttarakhand is a state in northern India. It is bordered by the states of Himachal Pradesh to the north, Haryana and Uttar Pradesh to the south, and Nepal to the east. The state has a population of over 10 million people and a land area of over 53,000 square kilometers.
The economy of Uttarakhand is based on agriculture, tourism, hydroelectricity, mining, manufacturing, Services, Infrastructure-2/”>INFRASTRUCTURE, Human Capital, government policies, economic growth, inequality, POVERTY, Environment, Climate Change, disaster risk reduction, and Sustainable Development.
Agriculture is the main source of livelihood for the people of Uttarakhand. The main crops grown in the state are rice, wheat, maize, barley, sugarcane, and pulses. The state also has a significant Livestock population.
Tourism is another important sector of the Uttarakhand economy. The state is home to many popular tourist destinations, such as the Himalayas, the Ganges River, and the Kedarnath Temple. Tourism generates EMPLOYMENT and income for the people of Uttarakhand.
Hydroelectricity is a major Source Of Energy in Uttarakhand. The state has several hydroelectric power Plants, which generate electricity for the state and for export.
Mining is another important sector of the Uttarakhand economy. The state has deposits of coal, iron Ore, limestone, and other minerals. Mining generates employment and income for the people of Uttarakhand.
Manufacturing is a growing sector of the Uttarakhand economy. The state has a number of manufacturing industries, such as textiles, electronics, and Food Processing. Manufacturing generates employment and income for the people of Uttarakhand.
Services is the largest sector of the Uttarakhand economy. The state has a number of service industries, such as Banking, tourism, and Education. Services generate employment and income for the people of Uttarakhand.
Infrastructure is a key factor in the development of the Uttarakhand economy. The state has a number of infrastructure projects, such as roads, bridges, and Airports. Infrastructure Development helps to improve the connectivity of the state and to attract investment.
Human capital is a key factor in the development of the Uttarakhand economy. The state has a number of educational institutions, such as universities, colleges, and schools. Human capital development helps to improve the skills of the workforce and to attract investment.
Government policies are a key factor in the development of the Uttarakhand economy. The State Government has a number of policies to promote economic growth, such as tax incentives, subsidies, and infrastructure development. Government policies help to create a favorable environment for investment and business.
Economic growth is a key objective of the Uttarakhand government. The state government has a number of policies to promote economic growth, such as tax incentives, subsidies, and infrastructure development. Economic growth helps to create jobs and to improve the standard of living of the people.
Inequality is a major challenge facing the Uttarakhand economy. The state has a high level of income inequality. Inequality can lead to social unrest and political instability.
Poverty is another major challenge facing the Uttarakhand economy. The state has a high level of poverty. Poverty can lead to Malnutrition, lack of education, and poor Health.
Environment is a key factor in the development of the Uttarakhand economy. The state is home to a number of Natural Resources, such as forests, rivers, and Mountains. The state government has a number of policies to protect the environment, such as forest conservation, water conservation, and Air Pollution control.
Climate change is a major challenge facing the Uttarakhand economy. The state is already experiencing the effects of climate change, such as rising temperatures, melting Glaciers, and changes in rainfall patterns. Climate change can lead to a number of problems, such as floods, droughts, and landslides.
Disaster risk reduction is a key priority of the Uttarakhand government. The state is prone to a number of natural disasters, such as Earthquakes, landslides, and floods. The state government has a number of policies to reduce the risk of disasters, such as early warning systems, disaster preparedness plans, and disaster relief measures.
Sustainable development is a key objective of the Uttarakhand government. The state government has a number of policies to promote sustainable development, such as RENEWABLE ENERGY, Energy Efficiency, and Waste Management. Sustainable development helps to protect the environment and to improve the standard of living of the people.
The economy of Uttarakhand is facing a number of challenges, such as inequality, poverty, climate change, and disaster risk reduction. However, the state government is taking a number of steps to address these challenges and to promote economic growth and sustainable development.
Here are some frequently asked questions and short answers about the main features of Uttarakhand economy:
What is the main economic activity in Uttarakhand?
The main economic activity in Uttarakhand is agriculture. The state is home to a number of different crops, including rice, wheat, maize, and sugarcane. Agriculture employs about 60% of the state’s workforce.What are the main industries in Uttarakhand?
The main industries in Uttarakhand are tourism, manufacturing, and mining. Tourism is a major Source Of Income for the state, with millions of visitors coming each year to enjoy the mountains, rivers, and temples. Manufacturing is also important, with industries such as textiles, food processing, and electronics. Mining is a smaller industry, but it is still important for the state’s economy.What are the main challenges facing the Uttarakhand economy?
The main challenges facing the Uttarakhand economy are poverty, Unemployment, and infrastructure development. Poverty is a major problem in the state, with about 20% of the population living below the Poverty Line. Unemployment is also a problem, with about 10% of the workforce unemployed. Infrastructure development is also needed, with the state’s roads, bridges, and airports in need of repair.What are the main opportunities for the Uttarakhand economy?
The main opportunities for the Uttarakhand economy are in the areas of tourism, manufacturing, and agriculture. Tourism is a major source of income for the state, and there is potential for further growth in this sector. Manufacturing is also important, and there is potential for further development in this sector. Agriculture is also important, and there is potential for further growth in this sector.What is the future of the Uttarakhand economy?
The future of the Uttarakhand economy is bright. The state has a number of strengths, including a young population, a growing economy, and a beautiful landscape. The state also has a number of challenges, but these challenges can be overcome with the right policies and investments. The future of the Uttarakhand economy is full of potential.
1. Which of the following is not a major economic activity in Uttarakhand?
(A) Agriculture
(B) Tourism
(C) Mining
(D) Manufacturing
2. Which of the following is the main source of Irrigation in Uttarakhand?
(A) Canals
(B) Wells
(C) Tanks
(D) Tube wells
3. Which of the following is the main crop grown in Uttarakhand?
(A) Wheat
(B) Rice
(C) Sugarcane
(D) Maize
4. Which of the following is the main industrial activity in Uttarakhand?
(A) Hydroelectric power
(B) Cement
(C) Steel
(D) Textiles
5. Which of the following is the main tourist attraction in Uttarakhand?
(A) The Himalayas
(B) The Ganges River
(C) The Nanda Devi National Park
(D) The Kedarnath Temple
6. Which of the following is the main language spoken in Uttarakhand?
(A) Hindi
(B) Garhwali
(C) Kumaoni
(D) Pahari
7. Which of the following is the capital of Uttarakhand?
(A) Dehradun
(B) Haridwar
(C) Mussoorie
(D) Nainital
8. Which of the following is the highest mountain in Uttarakhand?
(A) Nanda Devi
(B) Kamet
(C) Manaslu
(D) Dhaulagiri
9. Which of the following is the longest river in Uttarakhand?
(A) The Ganges
(B) The Yamuna
(C) The Chambal
(D) The Son
10. Which of the following is the largest lake in Uttarakhand?
(A) Nainital
(B) Bhimtal
(C) Sattal
(D) Gobind Sagar