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Abstract
Nature has provided bountiful resources surrounding us for sustenance of a better life. Thus, any part of our natural environment such as land, water, air, minerals, forest, grassland, wildlife, fish or even human population that man can utilize to promote his welfare, may be considered as Natural Resources. These resources, along with human resources and capital, play a crucial role for expansion to national output which ultimately drives towards economic development. Hence, the existence or the absence of favorable natural resources can facilitate or retard the process of economic development. Natural resources include land, forests, wildlife resources, fisheries, water resources, energy resources, marine resources, and mineral resources. These resources are usually known to man. But nature possesses more in its bosom which is still undiscovered. For example, the vast resources of solar, wind, tidal and geothermal energy are yet to be fully discovered and utilized. Man is required to develop scientific techniques for their proper utilization. Out of all those natural resources, some are exhaustible or nonrenewable type such as minerals and oils which can be used only one time. Once exhausted, they are depleted completely. But some others, like land, water, fisheries and forests are renewable or non-exhaustible in nature. If proper care is taken, they can be utilized endlessly.