Anil Agarwal, founder and chairman of Vedanta, in an interview with CNBC-TV18 post the meeting with Prime Minister Narendra Modi, said that a policy similar to the oil sector's should be brought in for the mineral sector as mining will be a big contributor to GDP and employment generation.
PM Modi met top economists and industry experts on Saturday, ahead of the Budget, to discuss key issues.
"We import 85 percent of the oil. We have a lot of oil. The kind of policy that has come in oil, similar should come in mineral also and the old contract of oil should be looked at and the government should not look at the revenue, the government should look at more production," said Agarwal. Environment clearance for the mining sector should be given in 60 days, he added.
Speaking about expectations from the Budget, he said, “Aluminium sector has seen 60 percent increase in import. However, I expect the government to bring some relief to the sector.”
“Prime Minister has assured the Budget will be on the lines of expectations. Therefore, I feel the Budget will be very friendly and we hope for the best,” Agarwal added.