NEW DELHI: Veteran businessman Anil Agarwal has suggested to PM Narendra Modi that the central government should privatize five mining companies, including the NMDC. According to him, this will save India at least $400 billion per year. This amount is spent on import. He said that running industries is not the job of the government.

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In a pre-budget meeting, Vedanta Resources Chairman Agarwal told PM Modi that privatizing these industries without retrenchment of jobs will enhance their capacity and increase domestic production, which will strengthen the economy. Pm Modi held a meeting with more than 40 economists and industry experts from various sectors on Saturday.

The meeting was convened to seek advice and discussion before the Budget. One of the industrialists who was invited to the meeting was Anil Agarwal. Agarwal made suggestions on betterment in the mining and natural resources sector at the meeting. On the other hand, N Chandrasekaran, chairman of Tata Group, gave valuable suggestions to PM Modi on value addition in the manufacturing and services sector and ITC Chairman Sanjeev Puri.

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