More jobs
Higher revenue generation
Economic diversification
All of the above
Answer is Right!
Answer is Wrong!
The correct answer is: d) All of the above
Value addition to minerals within the state can create more jobs, higher revenue generation, and economic diversification.
- More jobs: Value addition to minerals requires more processing and manufacturing, which creates more jobs. For example, mining iron ore and exporting it as a raw material creates fewer jobs than mining iron ore, processing it into steel, and manufacturing steel products.
- Higher revenue generation: Value addition to minerals increases the value of the minerals, which leads to higher revenue generation for the state. For example, if a state exports iron ore at a price of $100 per tonne, it will generate $100 in revenue for every tonne of iron ore that is exported. However, if the state processes the iron ore into steel and exports the steel at a price of $200 per tonne, it will generate $200 in revenue for every tonne of iron ore that is processed and exported.
- Economic diversification: Value addition to minerals can help to diversify the economy of a state. For example, if a state is heavily dependent on agriculture, value addition to minerals can help to create jobs in other sectors of the economy, such as manufacturing and services.
In conclusion, value addition to minerals within the state can create more jobs, higher revenue generation, and economic diversification.