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Budget 2021 should focus on encouraging investments into India, says Vedanta’s Anil Agarwal

Updated : January 28, 2021 05:03 PM IST

With only three days left before the budget, Anil Agarwal, Chairman of Vedanta spoke to CNBC-TV18 on what he expects from the Finance Minister.

“I am in the natural resources area and I think this will be a game-changer for the country because it will create a massive job and create huge revenue for the government. We expect the government to reduce cess from 20 percent to 10 percent so that more and more people come and invest," he said.

“Aluminium scrap is a dumping ground in India. Highest import of scrap has happened. There is 10 percent duty on the aluminum but 2.50 percent on the scrap. So, having 10 percent duty on the scrap is very important," Agarwal further said.

“In general everybody is looking for capex. So, the government should reduce the tax or give the incentive for the CAPEX so more and more capex can come in. The budget should focus on encouraging investments into India," he added.

On BPCL, Agarwal said, “What interests me is privatisation which government is doing. BPCL will be the most benefited if something like this happens. But we have to evaluate, we have to go through the data and make sure that this suits us. ”

Watch this video for more.

Published : January 28, 2021 04:59 PM IST

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