Time of free lunches over: Piyush Goyal to mining industry

TIL Desk Business/New Delhi/ Coming down heavily on the mining industry over concessions and freebies, Mines Minister Piyush Goyal today said the time of “free lunches” is over. Goyal, who also heads ministries of Power, Coal and New and Renewable Energy, said the industry should look at an era of transparency, fair play, concern for labour and health and happiness of the people impacted by mining.

Speaking at industry body Federation of Indian Mineral Industries’ annual conclave, the minister said that the argument on reducing import duty on iron ore does not hold much ground. “Argument is that you want to export mineral out, but there is a local demand which continues to import from abroad. You will not correct your prices to meet that demand, but would rather let leave it in stock or rather export it or wait for government to give you that concession to export,” he said.

He further said: “So to my mind, things have changed. I may be sounding harsh to you, but I think it’s time that we all recognise that national interest will prevail over industry interest. Free lunches are over…” Goyal said that the government wants the industry to have a greater degree of competition as well as wants there to be a fair availability of materials.